Investor Presentaiton
GRUYERE JOINT VENTURE
Gold Road (50%) and Gold Fields (50%)
JV Participants / Manager
JV Structure
Management Committee and
Subcommittees
Voting Rights
Key Decisions of Management
Committee
Toll Treating/Funding expansion
at Gruyere / Leveraging Gruyere
Facilities
Fully Funded Exploration / Upside
on Gruyere JV
.
Gold Fields manager of Gruyere operations. Gold Road manages exploration up to and including PFS.
Unincorporated JV
Each party receives 50% of gold production to sell on market or deliver into hedges.
Cash calls made by manager monthly
Management Committee: Each party is entitled to appoint 3 members to the management committee and Chair rotates annually. Meets quarterly.
Unanimous decisions required
Gruyere Technical Committee meets monthly with 3 members from each company, with Chair rotating annually. Advisory only to Management Co.
Equal to the percentage ownership prior to the commencement of the meeting (i.e. 50% each)
No casting vote by Chair
Approval of Annual Business Plan and Life of Mine Plan
Approval of significant unbudgeted capital
Approval of significant contracts
Key appointments (General Manager at Gruyere and Auditor)
JV Agreements allows toll treating of ore from Gold Road's tenements on arm's length terms, with key principles agreed.
Gold Road can sole fund capex for additional mill throughput and have first right to additional throughput.
Gold Road may leverage off Gruyere facilities, including water, emergency facilities, light vehicle maintenance, flights and accommodation if necessary
Development and operation management of Gruyere by Gold Fields allows Gold Road to focus on making the next major discovery
Fully funded to undertake extensive regional exploration to improve Gruyere production profile or new standalone deposit
1.5% Net Smelter Royalty on Gold Fields 50% share of production from the JV after 2Moz mined at Gruyere (100% basis)
GOLD
ROAD
RESOURCES
PAGE 31View entire presentation