Gold Road Resources (ASX:GOR) said its attributable mineral resources as of Dec. 31, 2024, increased 6% to 4.8 million ounces, and its attributable ore reserves increased 5% to 43 million tonnes at 1.4 grams per tonne grade of gold for 1.9 million ounces, according to a Thursday filing with the Australian bourse.

The increase comes as the Gruyere joint venture open pit mineral resource grew despite decreases in the Gruyere underground mineral resource, the filing said.

Meanwhile, the attributable ore reserves increased largely due to the addition of the Gilmour ore reserve, offsetting mining depletion at Gruyere, per the filing.

Shares fell 2% in midday trade Thursday.