Gold Road Resources has delivered a record $528 million in revenue from the gold it sold in 2024, a 11 per cent increase from 2023.
The result was driven by Gold Road selling 143,793 ounces (oz) of gold at an average realised price of $3672/oz.
The company also delivered record earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $294.4 million at a 56 per cent EBITDA margin, and $91.7 million in group free cash flow.
Gold Road’s other record financial results include $142.7 million in net profit after tax, $250.6 million in operating cash flow and 13.17 cents in basic earnings per share, all while remaining debt free.
The company closed 2024 with $166.3 million in cash and $7.6 million in gold in circuit, doré and bullion on hand following $13.4 million in dividends being paid and $55.9 million being paid in relation to Gold Road’s investment in De Grey Mining.
On an operational level, the Gruyere operation in Western Australia – a 50–50 joint venture (JV) between Gold Road and Gold Fields – has produced over 1.5 million ounces of gold since its first gold in June 2019, with 287,270oz produced in 2024 alone.
The Gruyere JV is guided to produce 325,000–355,000oz in 2025, and Gold Road is set to unlock greenfields exploration opportunities throughout the year.
Located 60km southwest of the Gruyere processing plant, Gold Road is developing its Yamarna mine readiness project.
Yamarna’s Gilmour gold project is on track to be ‘shovel ready’ beginning late 2026. Its pre-feasibility study estimates a five-year mine life averaging 50,300oz per annum and a pre-tax free cash flow of $377 million.
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