Ramelius widens interim losses
PERTH (miningweekly.com) – ASX-listed gold miner Ramelius Resources has widened its net loss for the six months to December by more than 920%, to A$58.4-million, as sales volumes and revenues declined.
During the interim period, Ramelius sold 40 133 oz of gold, which was down 16% on the previous corresponding period, while the average realised gold price was also down by 13%, to A$1 410/oz.
Sales revenue for the interim period declined by A$18.3-million, to reach A$59.1-million, compared with the A$77.4-million reported in the previous corresponding period.
The gold miner faced a reduced output during the quarter ended December as a ball mill failure at its Mt Magnet mine, in Western Australia, affected operations.
The miner was forced to stop production at Mt Magnet in November, and implemented a range of remedial actions to ramp up production at the mine.
Total fine gold production during the interim period reached 34 988 oz.
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