A significant rainfall event across the Goldfields earlier this month impacted open pit production at Gruyere. Restricted access to open pit mining resulted in stockpile processing for the majority of the month to date. Despite Gruyere production impacts in the MQ, GOR has stated material movement rates were on target prior to the rain event. Maintaining these movement rates consistently at Gruyere will be key if GOR is to meet its CY24 guidance. We reiterate our BUY rating with a slight price target increase from $1.95 to $2.00.
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