Gruyere is a large scale, open pit project located in the Yamarna greenstone belt in remote Western Australia. It is wholly owned by ASX listed Gold Road Resources. Given its remote and largely unexplored location the project represents a new frontier in gold exploration. The operation poured first gold in June 2019 and reached commercial levels of production on October 1, 2019. Wood Mackenzie’s asset reports are built from the bottom up, incorporating a number of granular data metrics to ultimately produce our industry standard cash operating costs. This report contains a detailed asset note giving you a holistic view of the asset, including an operational overview through to a timeline of events from inception to now. This qualitative analysis is supplemented by the associated Excel download which enables interrogation of a whole series of cost and production metrics over the life of the asset.