THE BOURSE WHISPERER: Ramelius Resources (ASX: RMS) has racked up its 12th consecutive quarter of meeting production Guidance from the company’s operations in Western Australia.
Ramelius Resources produced 31,367 ounces of gold for the December 2016 quarter, surpassing guidance of 31,000 to 35,000 ounces.
Contributing production centres were Mt Magnet with 12,674 ounces, Vivien contributing 16,524 ounces, and Kathleen Valley yielding 2,169 ounces.
The company said that although gold production is in the lower portion of the guidance range, the unit costs (AISC/oz) are expected to be higher than guidance of $1,100 per ounce (US$825/oz).
“Effectively three years of achieving production Guidance is an excellent performance by the operations team, which has no doubt provided a reliable foundation for the company going forward,” Ramelius Resources managing director Mark Zeptner said in the company’s announcement to the Australian Securities Exchange.
“Ramelius has successfully completed Kathleen Valley and commenced both Blackmans and Water Tank Hill during the quarter, and we continue the discipline of delivering into our lowest priced forward gold sales as they become due.
“On the exploration front, in line with our $15 million budget this year there has been a noticeable ramp up of activity at both Mt Magnet and Vivien, which will continue until at least the end of June.”