Gold Road Resources is set to commence limited early works on its flagship Gruyere Gold Project in the Great Victoria Desert after the company was granted several key Miscellaneous Licences by the Department of Mines and Petroleum.
Gold Road said these licences allow the company to partially de-risk the delivery of the project by commencing planned construction of the Gruyere accommodation village and an access road from the village to the main site in the December 2016 quarter. According to the company’s statement to the ASX, the anticipated cost of these works is approximately A$18 million.
The company’s Managing Director Ian Murray said Gold Road has identified two available high-quality second-hand 600 person accommodation villages and is currently locked in negotiations with the owners of those facilities.
“Securing these key Miscellaneous Licences is another important step in bringing Gruyere closer to development as it ensures tenure for the Project infrastructure and allows us to start the preparatory stag of construction in a timely manner. We have worked closely with a number of stakeholders in order to have these Miscellaneous Licences granted, and we would like to thank them for their cooperation,” Mr Murray said.
“We continue to progress discussions regarding comprehensive funding and corporate options for the Project and remain confidant of settling on solution towards the end of 2015, when the Gruyere Feasibility Study is due for completion.”