Gold Road Resources – Update

Gold Road Resources is under Algo Engine buy conditions and along with NCM is our preferred gold exposure.

The company provided financial statements for the 6 month period ending June 30, which displayed revenue $135mn, EBIT, $36mn and EPS of $0.026.

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Key points include:

Gold Road repaid all debt whilst retaining the undrawn facility of A$100M (US$71M). Net cash and equivalents of A$84M (US$60M) at 30 June 2020.

71,865 ounces produced* at attributable AISC of A$1,233/oz (US$875/oz)2.

Quarterly free cash flow of A$23.8M (excl. unsold bullion
and dore).

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