0418 GMT - Gold Fields and Gold Road, who jointly own the Gruyere gold mine, each appear to be pitching to their respective shareholders that they should own and run that operation alone, Barrenjoey analysts say in a note. "It is incumbent on both to outline the value of these competing proposals to respective shareholders," they say. The analysts reckon Gold Road stands to benefit "from both teams articulating the potential value of the underground, which has not previously been priced in by the market." They say Gruyere is an underperforming operation that should be producing 350,000 ounces a year, but hasn't because of a string of issues at the mine and mill. It produced 287,000 ounces in 2024. Barrenjoey has an underweight rating and A$2.25 target on Gold Road. The miner is up 15% at A$2.825. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
March 25, 2025 00:18 ET (04:18 GMT)
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