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major strategic focus.”
While dedicated to making the next big
discovery in the Yamarna, Gold Road has
built the capability in the last 12 months to
look at potential acquisitions with a greater
deal of interest.
“You are going to see ongoing consolida-
tion in the industry and I think that is always
how companies grow. I think in the cur-
rent market cycle some of the valuations
of some companies are getting a bit toppy,
which makes it challenging to do deals that
are of value to shareholders right now,”
Gibbs said.
“Broadly the things that we are looking at
need to be complimentary to Gruyere; long
life, low-cost, low jurisdictional risk. Inves-
Gruyere transitioned into commercial production seamlessly
tors don’t like a muddled portfolio and ide-
ally they want you to be in gold in Australia
Gilmour – 2.6mt @ 3.09 g/t gold for stage, Gibbs is steadfast in his approach to or gold in Africa rather than a bit of this and
258,000oz – in Gold Road’s Southern pro- exploration. a bit of that. We are looking for lower op-
ject area of the Yamarna is one emerging “You are only ever one drill hole away erating cost opportunities in Australia and
deposit that could present Gold Road with from a discovery,” he said. “We are out North America, Tier 1 jurisdictions. It would
a standalone opportunity or a potential feed there looking for things, but first prize for us be nice to land something sooner rather
source for Gruyere, 55km away. is making a discovery in the Yamarna belt than later, but it is a long game and takes
Hirono (18,000m of drilling completed), where we have a large ground-holding in you time to work that piece out. Often it is
Savoie and Goat-Redback (12,000m drill- what is probably the most poorly explored about right time in the market.”
ing completed) were high priority targets to greenstone belt in Australia. We hold about
receive attention this year. While still early 5,000sq km of ground there and that is our – Mark Andrews

Specialist

Drilling

Contractor

aUSTRaLIa’S PaYDIRT OCTOBeR 2020 Page 73