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rumours about its intention to acquire a stake in Canada’s Greenstone Gold Mines, a 60-40 partnership between Equinox Gold and Orion Resource Partners
“Gold Road continues to evaluate strategic opportunities and will only pursue acquisitions if it is in the best interests of its shareholders,” managing director and chief executive Duncan Gibbs said, Orion is seeking a A$1 billion-plus valuation for Greenstone and Gold Road Resources, which primary asset is a non-operating 50% in the Gruyere gold mine, may need to raise funds to pay for the potential stake acquisition.
Gold Road had A$143.8 million in cash and A$465 million in investments by the end of 2023, with a significant portion represented by its 19.9% stake in De Grey Mining , another gold company.
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