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Ramelius lands within guidance

10th January 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Ramelius Resources has hit its production targets in the three months to December, with the company reporting 47 902 oz of gold production.

The quarterly production was right within the targeted 45 000 oz to 50 000 oz, and was an increase from the 44 182 oz produced in the previous quarter.

Ramelius on Friday told shareholder that the Mt Magnet mine delivered 30 230 oz of gold in the December quarter, while the Vivien operation contributed 7 726 oz and the Edna May mine contributed 9 946 oz.

“The operations team continues to deliver consistent results, with production guidance achieved once again while investing in new projects and exploration,” said Ramelius MD Mark Zeptner.

“We have maintained a strong cash balance throughout the first half of the year and will look to grow this strongly in the second half.”

Zeptner said that the start of mining at Marda was a significant milestone for the company, with Ramelius also looking forward to the development of the Greenfinch and Tampia projects, in due course.

“We have excellent exploration results at Eridanus, with significant resource growth and look forward to further exploration success at a number of our projects in early 2020. Drilling has already recommenced at Tampia South, Symes Find and Eridanus.”

Cash and gold on hand at the end of the December quarter reached A$87.7-million, after significant investments into the company’s assets.
 

Edited by Creamer Media Reporter

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