Ramelius says first ore mined at its Tampia gold mine in Western Australia
(Kitco News) - Ramelius Resources announced today that it has commenced ore mining at its Tampia gold mine, located in Western Australia.
First ore was mined initially from the North Pit with the associated waste used to complete the required site earthworks. Mining will shortly move to the higher grade Mace and South Pit areas in line with the planned mining schedule.
The company said that the project has commenced on schedule and is on track to dispatch the first road train of high grade ore to the Edna May processing facility in early July 2021.
Managing director Mark Zeptner stated, "We are pleased to have commenced the mining of high grade ore from our Tampia gold mine on schedule with our published mine plan. Gold from Tampia will represent a significant proportion of our FY2022 production target and will be our first new mine in the Western Australian wheatbelt where we believe we will deliver significant returns for all stakeholders."
The Tampia gold mine has been acquired via the takeover of Explaurum by Ramelius in late 2018 / early 2019. The project is located 12km south-east of the town of Narembeen in the Western Australia wheatbelt and 250km east of Perth. Feasibility study shows that Tampia will generate NPV @ 5% of A$116 million (~US$87 million) and IRR of 155.7% using A$2,100/oz (~US$1,574/oz) gold price.
Ramelius Resources (ASX:RMS) is a Western Australian gold producer that has been listed on the ASX since 2003 and in production since 2006. Ramelius owns and operates the Mt Magnet, Edna May, Vivien, Marda and Tampia gold mines and is currently developing the Penny gold project, all in Western Australia.