10 October 2016
For Immediate Release
RECORD PRODUCTION EXCEEDS GUIDANCE RANGE
- SEPTEMBER 2016 QUARTER
Ramelius Resources Limited (ASX: RMS) is pleased to announce record gold production and exceeded Guidance for the September 2016 Quarter with 36,179 ounces of gold produced from the Company's operations in Western Australia. A brief update on operational, development and corporate activities follow;
10 October 2016
ISSUED CAPITAL
Ordinary Shares: 525M
DIRECTORS
NON-EXECUTIVE CHAIRMAN:
Robert Kennedy
NON-EXECUTIVE DIRECTORS:
Kevin Lines Michael Bohm
MANAGING DIRECTOR:
Mark Zeptner
www.rameliusresources.com.au [email protected]
RAMELIUS RESOURCES LIMITED
Registered Office
Suite 4, 148 Greenhill Road Parkside, Adelaide
South Australia 5063
Tel +61 8 8271 1999
Fax +61 8 8271 1988
Operations Office
Level 1, 130 Royal Street East Perth WA 6004
Tel +61 8 9202 1127
OPERATIONS
-
Group quarterly production of 36,179 ounces (Guidance: 31-35,000 ounces)
-
Mt Magnet contribution of 17,121 ounces
-
Kathleen Valley contribution of 11,102 ounces
-
Vivien contribution of 7,956 ounces
-
Given that gold production exceeded the Guidance range, the unit costs (AISC/oz) are expected to be significantly lower than Guidance of A$1,100/oz (US$825/oz)
DEVELOPMENT (MT MAGNET)
-
Blackmans open pit - access road, clearing and initial grade control commenced
-
Water Tank Hill underground - finalising approvals, preparing for commencement
-
Milky Way open pit - maiden Ore Reserve announced as part of annual Resources
& Reserves Statement in September 2016
CORPORATE
-
Cash and gold on hand increased to A$88.7M (Jun 2016 Qtr: A$49.7M)
-
A$23.4M net proceeds from the capital raise announced in July 2016
-
A$11.7M expenditure on capital development in the Quarter at;
-
Titan open pit pre-strip (Mt Magnet) - A$8.2M
-
Blackmans open pit set-up (Mt Magnet) - A$0.5M
-
Water Tank Hill set-up activities (Mt Magnet) - A$0.5M
-
Exploration - A$2.0M
-
Kathleen Valley rehabilitation work - A$0.5M
-
Nil corporate debt
Ramelius Managing Director, Mark Zeptner today said:
"Consecutive record quarters from the operations team, is an excellent performance result, carried out with a minimum of fuss. The December 2016 quarter will be a particularly busy period with Kathleen Valley winding down and mining commencing at both Blackmans & Water Tank Hill although, to be honest, we are well experienced in this area. The bottom line cash generation by the Company is undeniable at current A$ gold price levels.
On the exploration front, it is great to bring Milky Way into Reserve but I also look forward to a number of positive exploration updates across our portfolio over the next 3-6 months."
Further details will be available in the full quarterly report later this month. For further information contact:
Mark Zeptner Duncan Gordon
Managing Director Executive Director
Ramelius Resources Limited Adelaide Equity Partners Limited
Ph: +61 8 9202 1127 Ph: +61 8 8232 8800