Machinery points see Gruyere manufacturing stumble | Australian Markets
No sooner had the Gruyere gold mine bounced back from its weather-related points of a yr in the past when machinery points have struck to trigger more manufacturing woe.
Shares in Gold Highway Sources had been down 4.5 per cent in early trade on Tuesday after the 50:50 three way partnership companion within the mine 160km north-east of Laverton knowledgeable the market that March quarter output can be decrease than the report December period.
Gold Highway mentioned Gruyere would produce 70,000 to 73,000 ounces of gold this quarter as a result of of upkeep on the first crusher and the failure of two conveyor belts.
The company did say 2025 annual manufacturing and value steerage was unchanged at 325,000oz-355,000oz at an all-in sustaining price of $2400/oz-$2600/oz.
South African giant Gold Fields is the opposite company concerned within the three way partnership and is the mine operator.
Gold Highway mentioned the Gruyere JV had investigated the trigger of the mechanical points and developed restoration plans, and mining continued to ramp up as deliberate and was presently at an annualised fee of about 72 million tonnes every year, with additional enchancment anticipated.
The latest developments come after the mine appeared to have shrugged off the implications of the huge rainfall occasion of final March, which cut off highway entry to the west and halted operations during final April.
Gruyere produced 287,270oz in 2024, together with a report 91,631oz within the December quarter.
This was a important enchancment on earlier quarterly manufacturing of 68,781oz (September), 62,535oz (June), and 64,323oz (March).
Gold Highway broke a number of of its financial information within the 2024 calendar yr, posting its best-ever internet revenue after tax of $142.2 million on report income from gold gross sales of $528m.
The company additionally had report earnings earlier than curiosity, tax, depreciation and amortisation for the 12-month period of $294.4m, and report working money move for the 12 months to December 31 of $250.6m.
Shares in Gold Highway had been down 13¢, or 4.9 per cent, to $2.51 on the close on Tuesday.
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