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FINALIST: MINER
18/10/22 10:45 am
Gold Mining Journal 2022 - Strip ad - 20 x 420.indd 1 18/10/22 10:45 am
Gold Mining Journal 2022 - Strip ad - 20 x 420.indd 1
Gold Road

maintains

successful path

by Fraser Palamara Duncan Gibbs

fter hiccups with the ball mill at the Gruyere gold mine in The September quarterly report followed an impressive June
AWestern Australia, Gold Road Resources Ltd approached roundup which smashed records in production, sales, tonnes
the end of 2022 within production guidance and on track to processed, free cash flow, and cash balance. The September
greater achievements. report only managed to follow up on the head grade.
The Gold Road ship maintained its steady course in September The end of 2022 saw Gold Road steadily approaching 1.3 g/t
quarter following production of 83,635oz at AISC of $1,426/ gold head grade at Gruyere, which is an important component
oz. This kept the company within its yearly guidance of 300- to improving the operation as it moves through Stage 2 mining.
340,000oz for AISC of up to $1,470/oz. “If you look at the future pit stages going forward, majority
Reflecting on the problems with the ball mill, in response to a of them are in excess of 1.3 g/t,” Gibbs explained. “So we’re
question during the Diggers & Dealers mining forum in August, confident…we’ll see that uptick in grade, and that’s a key factor
managing director Duncan Gibbs called the issues nothing but to underpinning our 350,000oz future run rate [for 2023].”
a “speedbump” in the way of taking Gruyere to the next level. Gibbs is also excited to search for “mine two” as Gold Road
“We had a few speedbumps with the mill in the second and explores greenfields 25km away from Gruyere. Drilling planned
third quarter last year [2021],” he said. “A lot of that related to for 2023 will follow up on notable hits such as 10m @ 8.61 g/t
bearings, particularly on the ball mill, that being the common gold, 5m @ 16.76 g/t and 7m @ 3.91 g/t.
kind of theme…we’ve worked through those. “Discovery for us is all about trying to find mine two, and we’re
“We’ve certainly got an opportunity to turn Gruyere from a good very much a company focused on greenfields exploration as
operation into a great operation.” part of our growth strategy,” Gibbs said.

Tropicana brings the warmth

by Fraser Palamara

he past year signalled the first financial period of Regis largest producer on the ASX in FY22.
TResources Ltd’s fully fledged 30% interest in Tropicana, and Hefty investments are being made to keep Tropicana going the
chairman James Mactier was nothing short of pleased with the distance, including $67 million spent in FY22 on the Havana
mine’s performance. cutback.
“As expected, it has delivered significant production and “Exploration results at depth reinforce our expectation that
free cashflow to Regis, both of which are set to increase Tropicana will continue to provide these benefits for many years
substantially in the near term,” Mactier said at the company’s to come, well beyond current reserves,” Mactier said.
AGM in November.
Meanwhile at Duketon, Regis has invested $46 million at the
Tropicana is operated by JV partner and majority owner Garden Well South underground section. The operation saw
AngloGold Ashanti Ltd. The addition to Regis’ portfolio delivered the main pump station and primary ventilation commissioned,
$57 million in free cash flow during the September quarter. as well as first ore delivered to the mill during 2022.
The addition of Tropicana alongside the longstanding Duketon “Throughout this year, we continued to invest in our Duketon
gold mine helped push the company to a record 437,000oz assets through open cut and underground development,
gold production at AISC of $1,556/oz, making Regis the fourth plant maintenance and modifications, process improvements,

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