Ramelius launches asset review
PERTH (miningweekly.com) – Gold miner Ramelius Resources will launch a strategic review of its assets, with the aim of realising greater shareholder value.
The miner said on Monday that it would likely produce some 21 000 oz of gold during the current quarter from its Mt Magnet and Wattle Dam mines in Western Australia.
A further 19 000 oz of gold was expected during the June quarter, predominantly from Mt Magnet, as the Wattle Dam mine continued to wind down production.
In addition, the miner confirmed on Monday that it was planning to increase gold production to beyond 100 000 oz/y from 2013/14, with the addition of new projects such as Western Queen South, which came online at the start of this year, and the Coogee and Vivien projects.
Ramelius currently has an enterprise value of some A$60-million, and has some A$48-million cash and gold on hand.
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