Ramelius exceeds guidance

WESTERN Australian gold miner Ramelius Resources produced more than 1000 ounces of gold above the upper end of its September guidance thanks to solid production from its Mt Magnet and Vivien mines, and it expects a quantum leap once the Edna May operations are integrated.

Ramelius exceeds guidance Ramelius exceeds guidance Ramelius exceeds guidance Ramelius exceeds guidance Ramelius exceeds guidance

The company had forecast guidance between 28,000-32,000oz and delivered of 33,150oz with the bulk coming from its Mt Magnet operation [20,127oz], while the gold room at Vivien turned out a respectable 13,023oz.

Ramelius’ production should surge above 200,000oz per annum with the acquisition of the newly acquired Edna May gold mine for A$40 million, managing director Mark Zeptner said.

Zeptner said the company was continuing to develop the Water Tank Hill underground mine at Mt Magnet with stoping now underway, while the Blackmans open pit had been completed.

Mining also commenced at Milky Way and Stellar West.

In terms of exploration, last month the company upgraded its resource at Shannon and is continuing to drill high grade mineralisation at Vivien.

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