GOLD - Gold Road Considers Major Stake In Greenstone; Investors Wary Of Potential High Costs | Benzinga
Gold Road (OTCPK: ELKMF), an Australian mid-tier gold producer, confirmed interest in acquiring a stake in Greenstone Gold Mines – a Canadian joint venture project between Equinox Gold (AMEX:EQX) and Orion Resource Partners. With escalating geopolitical conflicts and a re-ignited threat of inflation, mergers and acquisitions have accelerated as gold keeps climbing to yet another fresh high.
The Greenstone project, situated in the Geraldton-Beardmore Greenstone Belt in Ontario, is set to commence production soon. With a process plant operating 365 days per year and a mill output averaging 27,000 tons per day, its anticipated annual yield is around 400,000 ounces of gold.
This news coincides with a period of operational adjustments at Gold Road’s flagship Gruyere mine in Western Australia. The past quarter witnessed production shortfalls attributable to lower-than-planned ore ...