Make Kitco Your Homepage

Mining News

Australia-focused gold miner Ramelius achieves Q1 2021 guidance

Vladimir Basov

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(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.

By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.