JOHANNESBURG (miningweekly.com) - On the back of record gold production of 58 012 oz for the three months ended December 31, ASX-listed miner Ramelius Resources on Tuesday upgraded its expected production guidance for the full year to between 200 000 oz and 210 000 oz.
During the quarter, the miner also achieved an all-in sustaining cost (AISC) of A$1 146/oz against a guidance of A$1 250/oz. For the full year, it expects its AISC to be about A$1 100/oz.
The record production was split between 36 635 oz from its Mt Magnet and Vivien operations, in the Murchison goldfield of Western Australia and 21 377 oz from the Edna May mine in the state's Westonia region.
Meanwhile, the miner noted that it had started underground diamond drilling at Edna May, which it bought from Evolution Mining in October, last year. Forty-five holes have now been completed in the drilling progamme.
The deposit has recorded production of over one-million ounces, with over 500 000 oz produced since 2011 under Evolution ownership. Yearly production since 2011 has ranged from 66 000 oz to 99 000 oz. Historic underground mining between 1911 and 1948 recorded production of 570 000 t at an average grade of 19.3 g/t.