Gold Road Resources Ltd.

Gold Road Resources Ltd. is a mid-tier gold producer headquartered in West Perth, Australia, operating primarily in Australia. The company's portfolio consists of 2 projects, comprising 1 operating mine and 1 development project. Key assets include Gruyere. The company's business model is centered on its participation in a major joint venture, where its partner serves as the operator, combined with a distinct focus on organic growth through new discoveries. A key differentiator is its significant greenfields exploration program, which is uncommon among its peers and aims to create value through discovery rather than relying solely on acquisitions. The organization maintains a completely unhedged position, providing shareholders with full exposure to commodity price movements. Operational risk management is governed by a comprehensive Enterprise Risk Management Framework aligned with AS ISO 31000:2018, which includes a board-approved Risk Appetite Statement. This framework is actively overseen by a dedicated Risk and ESG Board Committee that conducts regular reviews and educational 'deep dives' into emerging issues such as geopolitical trends and cyber risk to ensure business resilience and strategic alignment.

Strategic direction is founded on a dual-pronged approach: optimizing the value and operational performance of its core joint venture asset and pursuing sustainable growth through both organic and inorganic channels. Organic growth is driven by a disciplined exploration and investment framework designed to advance prospects through a defined project pipeline, with the objective of discovering and developing new resources. Inorganic growth focuses on value-accretive corporate development and strategic investments. Capital allocation is guided by a steadfast commitment to disciplined investment decisions and capital management, which includes a consistent policy of rewarding shareholders through fully franked interim and final dividends. Long-term objectives include extending the production profile of the main operation well beyond its current plan through the evaluation of underground potential and advancing satellite deposits. A core ambition is to be at the forefront of new discoveries, leveraging proprietary assessment tools to identify and explore highly prospective areas.

Executive leadership is headed by a Managing Director and CEO with 35 years of industry experience, including the successful discovery and development of a major deposit and management of large-scale underground operations. The Board of Directors consists of 5 members, with 4 being independent non-executive directors, ensuring strong independent oversight. Board composition reflects a commitment to diversity, with 40% female representation. Governance is structured through 6 board committees, including Audit, Risk & ESG, and Growth & Development, which provide focused oversight on key business areas. The governance framework complies with the 4th edition of the ASX Corporate Governance Council’s Principles and Recommendations and includes an internal audit function performed by independent service providers who report directly to the Audit Committee. The Board actively engages in risk oversight through educational sessions and deep dives on topics such as contractor management and mandatory climate reporting.

The organization's sustainability practices are underpinned by management systems certified to international standards, including ISO 14001 for Environmental Management and ISO 45001 for Occupational Health and Safety. A commitment to respecting Indigenous rights is demonstrated through support for the UN Declaration on the Rights of Indigenous Peoples, including the principle of Free, Prior and Informed Consent (FPIC), and by maintaining land access and heritage agreements with all relevant Native Title groups. The company employs an avoidance-first approach to cultural heritage, conducting surveys before any ground disturbance. Social responsibility initiatives include publishing an annual Modern Slavery Statement and conducting human rights due diligence on new and existing suppliers. The company has achieved significant progress in gender equality, with 40% female representation on the Board and 43% on the Executive Leadership Team. Community investment programs focus on education, youth development, and health, with established partnerships supporting local and Indigenous communities.

The company's primary operational asset is held within a 50:50 joint venture, where Gruyere Mining Company Pty Ltd, a member of the Gold Fields Ltd group, serves as the manager of operations. A significant component of the corporate structure involves strategic listed investments, including a 17.3% interest in De Grey Mining Limited, which was acquired via the successful takeover of DGO Gold in 2022. The organization also holds an 18.8% interest in Yandal Resources. The company actively manages its exploration portfolio through partnership agreements, having entered into a binding Farm-in Agreement with Iceni Gold Ltd in December 2024 for the Guyer Gold Trend. Additionally, it executed a Farm-out Agreement in July 2023 with Yerrida Co Pty Ltd for the Yerrida tenement package and another in September 2023 with Pernatty Co Pty Ltd for the Stuart Shelf project. Operationally significant subsidiaries include Gold Road (Gruyere) Pty Ltd, DGO Gold Pty Ltd, and Renaissance Resources Pty Ltd.