Jefferies expects improvement in throughput for Australia's Gold Road by FY22 end

Gold Road Resources

10/10/2022 23:38

** Jefferies expects Australia's Gold Road Resources
 GOR.AX  to improve both grade and mill throughput by the end of
FY22 as its Gruyere operations showed improved performance in Q3
    ** Brokerage sees impacts of a stronger U.S. dollar keeping
AUD gold prices high but expects a stronger dollar to increase
U.S.-based cost influences (such as diesel), making cost
inflation still a risk for GOR 
    ** Jefferies expects GOR's higher ongoing production base to
 sustain for longer, driven by increased resources and
production in the Gruyere surrounds
    ** Brokerage says it is attracted to Gold Road for its
low-cost gold production, among other reasons
    ** Jefferies maintains its PT for GOR at A$1.80, and
reiterates a "buy" rating 
    ** Eight of nine analysts rate the stock "buy" or higher,
one "hold"; their median PT is A$1.75 – Refinitiv data
    ** GOR has fallen 16.6% this year, as of last close
 (Reporting by Nausheen Thusoo)
 ((Nausheen.Thusoo@thomsonreuters.com;))