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Gold Road and Gold Fields are jointly developing the Gruyere gold project in WA.

JV partner buys $64m stake in Gold Road

South African mining giant Gold Fields has spent $64.3 million to increase its stake in Perth-based Gold Road Resources to 10 per cent, as the two companies jointly develop the Gruyere project.

Gold Fields acquired the 74.8 million shares at a price of 86 cents each, representing a 27 per cent premium to Gold Road’s last closing price.

It follows news in December that Gold Fields had paid $350 million to acquire a 50 per cent stake in Gold Road’s Gruyere project, with terms of the joint venture including that Gold Fields acquires no more than 10 per cent worth of its joint venture partner’s issued share capital.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 30/11/17

1 year TSR5 year TSR
196thMetals X58%16%
201stSaracen Mineral Holdings57%28%
375thGold Road Resources15%38%
485thIndependence Group-2%-1%
707thPerseus Mining-44%-32%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

31/10/17
$10k Bought
24/10/17
$0 Other
24/10/17
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

13th↓Independence Group$424.1m
14th↑Saracen Mineral Holdings$423.2m
15th↑Gold Road Resources$326.6m
16th↓Perseus Mining$289.3m
17th-Metals X$279.8m
492 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Gold Road Resources

77thIan Murray$917k
206thJustin Osborne$559k
552ndTim Netscher$97k
Ranked by total remuneration from all listed WA companies

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