Microsoft Word - ASX RELEASE 20150708 Gold Production Guidance Achieved at Mt Magnet.docx
8 July 2015
For Immediate Release
GOLD PRODUCTION GUIDANCE ACHIEVED AT MT MAGNET - JUNE 2015 QUARTER
Ramelius Resources Limited (ASX: RMS) is pleased to announce that gold production guidance has again been achieved with 17,303* ounces produced for the June 2015 Quarter from the Mt Magnet gold mine in Western Australia. A brief update on operational, development and corporate activity follows.
8 July 2015
ISSUED CAPITAL
Ordinary Shares: 469M
DIRECTORS
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 08 9202 1127
Fax 08 9202 1138
OPERATIONS
• Mt Magnet quarterly production of 17,303* fine ounces of gold
(Guidance: 17,000-20,000oz)
• Group annual production for FY2015 of 86,738* fine ounces of gold
(Upgraded Guidance: 88,000oz)
* subject to final gold production out-turn from Perth Mint
DEVELOPMENT
• Vivien Gold Project (WA) - portal established & underground development commenced with 53 metres of decline advance achieved by 30 June 2015
• Kathleen Valley Gold Project (WA) - site set-up completed and open pit mining commenced 25 June 2015 with first ore to be hauled Sept 2015 Qtr
CORPORATE
• Cash & gold on hand increased to A$36.4M (Mar Qtr: A$35.8M), after A$5.9M expenditure on development at Vivien & Kathleen Valley and greenfields exploration during the Quarter, nil debt
• Commenced gold deliveries into the forward sales program in the June
2015 Quarter consisting of 7,418oz @ ~A$1,570/oz
Ramelius Managing Director, Mark Zeptner today said:
"It has been very pleasing to see that the transition to the new Perseverance open pit at Mt Magnet has not prevented Guidance being achieved once again for the 5th consecutive quarter. The period has also seen start-up of our new projects near Leinster and commencement of gold deliveries into our forward sales program. Both Vivien and Kathleen Valley have started efficiently with the Company well positioned to increase gold production quarter on quarter throughout the 2016 financial year."
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 Ph: (08) 9202 1127 Ph: (08) 8232 8800