West Australia’s Gold Road Resources says a scoping study on its flagship asset suggests there is more gold than first thought, a clear indication that a $3.3 billion takeover bid from its joint venture partner undervalues the company.
The Gruyere mine is located north-east of Perth. It is half owned by ASX-listed Gold Road and the remainder is held by Johannesburg-based Gold Fields, one of the world’s largest miners of the precious metal.
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