The US-based group and its subsidiaries in Australia, the UK and Japan have accumulated a 5.46% stake in the gold development company.
This has come through a series of on-market transactions between November 9, 2018, and March 1, 2019, ranging in price from 70 cents to 93 cents.
Stake valued at more than $42.243 million
BlackRock Investment Management (UK) Limited has been the most active of the subsidiaries.
The value of the group’s investment in Gold Road is in excess of $42.243 million based on this morning’s price of 88 cents per share.
Mining is underway with ore being stockpiled in preparation for initial production with first gold scheduled for the June quarter and commercial production in the second half of 2019.
The company expects its share of 2019 production to amount to 50,000 to 60,000 ounces.
Earlier this year a 5% increase in gold reserve to 3.92 million gold ounces was revealed at Gruyere with Gold Road’s attributable ore reserve being 50% of the amount.