GOR rallied 4.2% on Thursday, making it the main board’s 4th best performer, as it knocks on the door of its post-COVID highs. This is the first of three ASX gold miners looked at today, all with a market cap of between $2bn and 3bn, an area where consolidation is in the air. Gold Road Resources (GOR) owns a 50% equity stake in the Gruyere gold mine, with additional exploration prospects in the Yamarna Greenstone Belt in Western Australia. It’s been a frustrating year for GOR, including weather setbacks at the Gruyere gold mine. GOR is now exploring out at Yamarna, but its Gruyere and its longer-dated options remain their attractive and prospective value lever.
- We can see GOR trading up 10% over the coming months, but the risk/reward is stretched around $2 – buying pullbacks the preferred approach.
MM is cautiously bullish GOR
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