Ramelius hits production targets in June quarter
PERTH (miningweekly.com) – Gold miner Ramelius Resources has achieved its production goals for the three months to June, with the miner producing 25 422 oz of gold, within its previous guidance of between 25 000 oz and 26 000 oz.
Ramelius said on Friday that its Mt Magnet project, in Western Australia, delivered 19 215 oz during the quarter, while its Coogee/Burbanks project produced 6 207 oz.
During the quarter, Ramelius also progressed with its recently acquired Vivien gold project, acquiring all the necessary statutory approvals for the project.
A feasibility study has estimated that the A$20-million project would deliver about 451 000 t, grading 7.6 g/t ore over a mine life of 30 months, to deliver about 109 000 oz of gold.
Last month, Ramelius signed a sale and purchase agreement with diversified miner Glencore to acquire the Kathleen Valley gold project, also in Western Australia, for about A$3.64-million. The miner also agreed to pay A$405 000 to acquire the adjacent Kathleen Valley joint venture (JV) and the Mt Harris JV.
The Kathleen Valley acquisition would likely be completed by the end of August this year.
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