🕐19.03.12 - 05:27 Uhr

RESOURCE CAPITAL RESEARCH [RCR] - GOLD ROAD RESOURCES LIMITED (ASX:GOR), MARCH QUARTER 2012





Fortbridge Media Release

Resource Capital Research [RCR] - Gold Road Resources Limited (ASX:GOR), March Quarter 2012

Resource Capital Research (RCR) has released an updated research report on Gold Road Resources Limited (ASX: GOR).

RCR figures it is quite possible that GOR could achieve ~50kozpa initial production early in CY14 from its own plant. That would be a major milestone, but should not distract focus from the big prize � untapping the major exploration potential of the Yamarna belt.

Investment Points:

� GOR holds a strategic position (~5,000km2) in under-explored Yamarna greenstone belt E Goldfields, WA. Exploration & Devt budget increased to ~A$23mpa.
� Cashed up to fund CY12 intensive exploration and development initiatives.
� Total Yamarna resource (Atilla and Central Bore) 1.07Moz, likely to continue to increase with aggressive 150,000m p.a. drilling program for CY12.
� Cluster of multiple parallel high grade zones discovered in just 10km2 around Central Bore indicates huge exploration potential for under-explored Yamarna belt.
� Central Bore high grade resource - 152koz at 9.1g/t, Scoping Study completed for modest ~25kozpa truck and treat production.
� Drilling aimed at proving up Atilla higher grade zones could shift focus to larger scale production through a new dedicated processing plant.
� Accordingly, we envisage GOR as a potential ~50kozpa producer in 1H14 generating strong cash flow to address the huge Yamarna belt exploration potential.

Resource Capital Research provides equity research for junior and developing resource companies - typically those with a market value of less than $200m, though up to several billion dollars, with a focus on the gold, uranium, iron ore and rare/minor metals sectors. RCR also offers mining companies additional financial services.

Please refer to RCR for details of equity research coverage or call +612 9252 9405.




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