{"id":8393,"date":"2023-08-29T16:11:19","date_gmt":"2023-08-29T06:11:19","guid":{"rendered":"https:\/\/yinghuiinternational.com\/?p=8393"},"modified":"2023-08-29T16:11:20","modified_gmt":"2023-08-29T06:11:20","slug":"gold-road-breaks-records","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2023\/08\/29\/gold-road-breaks-records\/","title":{"rendered":"Gold Road breaks records"},"content":{"rendered":"\n

<\/h1>\n\n\n\n

\"\"KELSIE HARFORD<\/a><\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

Gold Road Resources has released its half-yearly results, sharing record profits.<\/p>\n\n\n\n

Revenue from gold sales for the six months totalled $229 million, up from $196.5 million the previous financial year (FY22).<\/p>\n\n\n\n

Gold sales reached 80,115 ounces, outstripping the 79,606 ounces sold in up to June FY22, with production benefiting from record throughput rates for the half year.<\/p>\n\n\n\n

\u201cThe six months to 30 June 2023 has broken several financial records for Gold Road,\u201d managing director and chief executive officer Duncan Gibbs said<\/a>.<\/p>\n\n\n\n

\u201cThe strong result reflects the consistent performance of the processing plant, a supportive Australian dollar gold price and Gold Road\u2019s production being fully unhedged.\u201d<\/p>\n\n\n\n

Gold Road\u2019s earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the six month period totalled $122.6 million, with a margin of 54 per cent.<\/p>\n\n\n\n

Operating cash flow for the six months to June 30 was $110.3 million, smashing the $69.5 million of the previous June 30 period in 2022.<\/p>\n\n\n\n

The consolidated net profit after tax for the six months was $55.7 million, compared to the June 2022 after tax profit of $39.9 million.<\/p>\n\n\n\n

Gold Road ended the half year with cash and short-term deposits of $152.6 million, far above the $74.4 million from FY22.<\/p>\n\n\n\n

Additionally, Gold Road\u2019s Gruyere exploration project<\/a> in WA is on target to achieve the restated 2023 annual guidance of 320,000 to 350,000 ounces of gold.<\/p>\n\n\n\n

Gold Road also reported a strong exploration and investment portfolio with strategic listed investments in De Grey Mining and Yandal Resources valued at $416.1 million on 30 June 2023.<\/p>\n\n\n\n

Drilling continues at Gold Road\u2019s Mallina and Yamarna projects<\/a> in WA with on ground activities commenced at the Greenvale project.<\/p>\n\n\n\n

The Golden Highway project was also announced to have completed drilling in preparation for feasibility level studies.<\/p>\n","protected":false},"excerpt":{"rendered":"

KELSIE HARFORD Gold Road Resources has released its half-yearly results, sharing record profits. Revenue from gold sales for the six months totalled $229 million, up from $196.5 million the previous financial year (FY22). Gold sales reached 80,115 ounces, outstripping the 79,606 ounces sold in up to June FY22, with production benefiting from record throughput rates … Continue reading “Gold Road breaks records”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[206],"tags":[],"class_list":["post-8393","post","type-post","status-publish","format-standard","hentry","category-goldcopper"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-2bn","jetpack-related-posts":[{"id":8310,"url":"https:\/\/yinghuiinternational.com\/index.php\/2023\/07\/27\/red-5-continues-to-shine\/","url_meta":{"origin":8393,"position":0},"title":"Red 5 continues to shine","author":"yinghui","date":"July 27, 2023","format":false,"excerpt":"OLIVIA THOMSON Following four months of record gold production at its King of the Hills (KOTH) gold mine, Red 5 has released its June 2023 quarter report. 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