Gold Road Resources: A Tough Quarter At Gruyere

Gold Road Resources: A Tough Quarter At Gruyere


Gold Road Resources released its Q3 results last week with a disappointing quarter for quarterly gold production due to unplanned downtime related to a ball mill motor bearing failure.

Unfortunately, this has pared back FY2020 production guidance at Gruyere to 260,000 ounces at the mid-point from 268,000 ounces previously.

The good news is that the company continues to improve its balance sheet, ending the quarter with over $100 million in cash and no debt.I see this recent pullback as a low-risk buying opportunity, but I believe there are more attractive opportunities among the more growth-focused Australian producers.We’ve finally begun the Q3 Earnings Season for the Gold Miners Index ( GDX ), and one of the first companies to report its results is Gold Road Resources ( OTCPK:ELKMF ). While the mid-tier Australian gold producer started off the year strong and was tracking in line with guidance, Q3 was a tough quarter […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet