Ramelius maintains production outlook

1st April 2020 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – Gold miner Ramelius Resources has maintained its full year production guidance amid the Covid-19 pandemic, with the miner reporting the production of 51 825 oz of gold in the March quarter.

The March quarterly production was within the guidance of between 50 000 oz and 55 000 oz, and up from the 47 902 oz produced in the previous quarter.

Gold production at the Edna May operation reached 12 844 o z, with the Mt Magnet project delivering a further 38 981 oz.

The company continued to deliver gold into its forward sales books at the current schedule, and has held discussions with its hedge counterparties on how to restructure its short-term contracts should a complete lockdown occur in Australia in response to the pandemic.

Ramelius told shareholders on Wednesday that the company had implemented a number of measures and has defined a clearly articulated strategy and processes throughout the organisation to ensure that all employees and contractors worked to control the risk of infection and transmission of Covid-19.