Gold Road Resources (ASX: $GOR) preliminary production and financial update

Gold Road Resources Limited (Gold Road or GOR) has released a preliminary production and financial update for the December 2023 quarter. The company's 2023 annual production from Gruyere met the lower end of the guidance, totaling approximately 321,978 ounces (160,989 ounces attributable). The December quarter production was impacted by lower mining productivity, with approximately 74,653 ounces of gold produced, down from 88,668 ounces in the September quarter.

Executive Commentary on Production and Financial Update

The December quarter presented challenges in mining productivity, resulting in lower than expected gold production. Despite this, we are committed to addressing the issues and optimizing our operations to ensure improved performance in the upcoming quarters. The annual production meeting the lower end of the guidance demonstrates our ability to navigate through operational challenges and deliver results. We remain focused on maximizing the value of our assets and maintaining our unhedged exposure to the spot gold price to capitalize on market conditions.

Summary of Gold Road Resources' Production and Financial Update

Gold Road Resources' 2023 annual production from Gruyere met the lower end of the guidance, showcasing the company's ability to deliver results despite operational challenges. The lower December quarter production was attributed to unexpected labor availability issues, impacting mining productivity. The company's commitment to addressing these challenges and optimizing operations reflects its determination to enhance performance. With a focus on maintaining unhedged exposure to the spot gold price, Gold Road Resources aims to maximize the value of its assets and navigate market conditions effectively. The full December 2023 quarterly report is scheduled for release later this month, providing a comprehensive overview of the company's production and financial performance.