https://www.engineeringnews.co.za

Ramelius shares soar on higher grades

5th June 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – The share price of ASX-listed Ramelius Resources jumped by nearly 10% on Wednesday on news that head grade at the company’s Mt Magnet gold mine had increased by 20% during April and May.

The gold miner said that head grades during April were recorded at 1.35 g/t gold while in May 1.40 g/t gold grades were recorded, up from the 1.16 g/t reported in the March quarter.

Grades were reconciling well against the company’s resource model, and Ramelius noted that it was also progressing a number of initiatives to optimise the project and deliver a reduction in operating costs, in response to the current gold price environment.

Gold production from the Mt Magnet operation reached 11 747 oz during April and May.

Meanwhile, operations at the Coogee gold project were expected to start in July, with Ramelius reporting that it had received approval for its mining proposal.

Coogee was expected to add some 18 000 oz to Ramelius’ production profile.

First ore from the Western Queen South project was also expected to be delivered to the Mt Magnet plant by the end of August, at an estimated grade of 3.9 g/t gold.

Pre-strip of the Western Queen South project was proceeding as scheduled.

Ramelius’ share price was trading at a high of 17c on Wednesday.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rio-Carb
Rio-Carb

Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...

VISIT SHOWROOM 
Industrial Nozzles & Systems (Pty) Ltd
Industrial Nozzles & Systems (Pty) Ltd

Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.078 0.994s - 140pq - 2rq
Subscribe Now