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RAMELIUS RESOURCES LIMITED — Earnings Release 2015
Apr 7, 2015
65718_rns_2015-04-07_bef36599-b762-4f90-9799-63cd969f0602.pdf
Earnings Release
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8 April 2015 For Immediate Release
GUIDANCE ACHIEVED AFTER NEAR RECORD GOLD PRODUCTION AT MT MAGNET – MARCH 2015 QUARTER
Ramelius Resources Limited (ASX: RMS) is pleased to announce that gold production guidance has once again been achieved for the March 2015 Quarter, on the back of near record production of 22,655 ounces from the Mt Magnet gold mine in Western Australia. A brief update on operational, development and corporate activity follows.
OPERATIONS
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(Guidance: 21,000-23,000oz)
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Cash cost and All-In Sustaining Cost (AISC) are expected to be below Guidance of A$1,000/oz and A$1,100/oz respectively
DEVELOPMENT
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Vivien Gold Project (WA) – Funding in final stages of due diligence, project fully permitted, ready for June 2015 Quarter commencement of underground mine portal
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Kathleen Valley Gold Project (WA) – BFS completed in February 2015, environmental permitting nearing completion, targeting June 2015 Quarter for commencement of open pit mining
CORPORATE
- Cash & gold on hand increased to A$35.8M (Dec Qtr: A$24.7M), representing a further A$11.1M or 45% increase in the period, nil debt
Ramelius Chief Executive, Mark Zeptner today said:
“The turnaround at Mt Magnet and Ramelius is in full swing now with four consecutive quarters of achieving production Guidance. Combined with a stronger A$ gold price, this has resulted in a substantial boost to cash & gold on hand, which currently represents approximately 7.6 cents per share.”
“The cash generating ability of our Mt Magnet operation, backed by an Ore Reserve of more than 300,000 ounces, is the result of a sustained effort by our operations team and is underpinning our strategy of building a profitable gold business. With two new high grade mines coming on stream shortly, Ramelius is well placed to take advantage of the current Australian dollar gold price.”
Further details will be available in the full quarterly report later this month.
For further information contact:
Mark Zeptner Duncan Gordon Chief Executive Officer Executive Director Ramelius Resources Limited Adelaide Equity Partners Ph: (08) 9202 1127 Ph: (08) 8232 8800