Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • Gold Road’s share price rose 0.625% to AUD 3.22, with a market cap of AUD 3.47 billion.

  • Gruyere mine reported preliminary June quarter production of 72,980 ounces of gold.

  • Cash and equivalents rose to AUD 242.2 million, with no debt drawn.

Gold Road Resources Limited (ASX:GOR) saw a slight uptick in its share price on Tuesday, trading at AUD 3.22 at the tiem of writing, up 0.625% or AUD 0.02, amid the release of a preliminary production update for the June 2025 quarter from the Gruyere gold mine. The company now holds a market capitalisation of AUD 3.47 billion with a trading volume of over 2.2 million shares during the session.

The Gruyere gold project is a 50:50 joint venture between Gold Road and Gruyere Mining Company Pty Ltd, a subsidiary of Gold Fields Ltd, which operates and manages the mine. The June quarter update indicated gold production of 72,980 ounces on a 100% basis, slightly above the March quarter output of 71,226 ounces.

Details regarding the All-in Sustaining Cost (AISC) for the quarter will be included in the company’s full June 2025 quarterly report, which is scheduled for release on Thursday, 17 July 2025. Gold Road confirmed that the report will also provide additional information on the Scheme Implementation Deed with Gold Fields, which is progressing according to the timeline outlined in its earlier ASX announcement on 5 May 2025.

On the financial front, Gold Road reported total sales of 37,741 ounces for the June quarter at an average realised price of AUD 5,131 per ounce. As of 30 June 2025, the company held approximately 2,027 ounces of gold in doré and bullion form. Gold Road remains fully unhedged, maintaining full exposure to spot gold prices.

The company’s financial position has improved, with cash and equivalents increasing to approximately AUD 242.2 million, up from AUD 203.8 million in the March quarter. Gold Road continues to operate without any drawn debt. In addition, the company holds listed investments valued at approximately AUD 921 million.

Despite the stable quarter, Gold Road flagged that full-year production at Gruyere is likely to land at the lower end of its 2025 guidance range of 325,000 to 355,000 ounces (with Gold Road’s attributable share between 162,500 and 177,500 ounces). The AISC is expected to be toward the upper limit of the forecast range of AUD 2,400 to AUD 2,600 per ounce, with final figures to be confirmed in the upcoming quarterly report.

Investors are likely to focus on the forthcoming quarterly report for more granular insights, including updated cost metrics and strategic updates related to the ongoing merger process with Gold Fields.