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Australia-focused gold miner Ramelius achieves Q1 2021 guidance

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(Kitco News) - Australian gold miner Ramelius Resources (ASX: RMS) today reported that it has achieved guidance by producing 66,029 ounces of gold for the March 2021 Quarter.

According to the company’s statement, the group’s quarterly gold production was 66,029 ounces (guidance: 65,000 - 70,000 oz), with Mt Magnet mine (incl. Vivien) output of 41,832 ounces and Edna May mine (incl. Marda) output of 24,197 ounces.

Ramelius said that cash and gold on hand increased to A$230.6M as at the end of the Quarter (Dec 2020 Qtr: A$221.5M) after scheduled investments into capital and project development for Tampia and Penny. The movement in net cash and gold, before the income tax payment, showed an increase of A$29.4M over the Quarter. The company finished the Quarter with a net cash position of A$222.5M (Dec 2020 Qtr: A$213.4M).

The company continues to deliver gold into its forward sales book as the current schedule requires, with a Quarter end position of 209,250 ounces at an average price of A$2,310/oz.

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