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Ramelius posts solid quarter

26th October 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold miner Ramelius Resources has reported a solid quarter of gold production for the three months to September.

Gold production in the September quarter reached 61 244 oz, which was down slightly from the 67 418 oz reported in the June quarter, while all-in sustaining costs (AISC) increased from A$1 564/oz to A$1 930/oz in the same period, in line with expectations.

The miner told shareholders on Wednesday that an improvement in the AISC was expected for the second half of the financial year, compared with the first half, driven by the increased ore tonnage contribution from the high-grade Penny mine.

Gold sales for the September quarter reached 59 750 oz at an average achieved gold price of A$2 460/oz. At the end of the quarter, forward gold sales consisted of 193 250 oz of gold at an average price of A$2 549/oz over the period July 2022 to December 2024.

Looking ahead at the full year, Ramelius has maintained its production guidance at between 240 000 oz and 280 000 oz at an AISCt of between A$1 750/oz and A$1 950/oz.

Edited by Creamer Media Reporter

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