Gold Road (ASX: GOR) broke multiple financial records in 1HFY23. What’s ahead?

Tue 06 Feb 24, 02:58 AM | Team Kalkine

Image source: Phawat, Shutterstock

Highlights

Gold Road is an Australian company engaged in gold exploration and production across Queensland, Western Australia and South Australia

In 1HFY23, the company’s revenue increased by 16.5% YoY to AUD 229 million

Van Eck Associates Corporation has the highest stake in GOR with a shareholding of nearly 10.46%

Gold Road Resources Limited (ASX: GOR) is an ASX-listed gold exploration and production company. The firm manages its Tier 1 mine and exploration projects across Western Australia, South Australia, and Queensland. The company owns 50% of the Gruyere gold mine.

In the first half of financial year 2023 (FY23), the company saw a 16.5% YoY rise in revenue to AUD 229 million, and 39.6% YoY increase in NPAT to AUD 55.7 million. Operating cash flow during the period stood at AUD 110.3 million, up 58.7% over the previous corresponding period. In 1HFY23, gold sales were 80,115oz.

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