Ramelius lifts December quarter output, keeps FY guidance
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The news: Gold miner Ramelius Resources has lifted output in the December quarter and reaffirmed its full-year production guidance.
The numbers: The West Australian miner lifted output to 85,311 ounces in the three months to December, as production at its flagship Mount Magnet mine jumped 64% on the prior quarter but Edna May gold production was down. Average all-in sustaining cost (AISC) for the quarter was lower at $1,551 an ounce.
The context: Ramelius said it is tracking ahead of plan on production and cost profile, driven by the higher than expected ore grade at the Cue site at Mount Magnet.
It will undertake a geological model review of Cue during the March quarter but has reaffirmed its full-year guidance for production of 270,000 to 300,000 ounces of gold at an AISC of $1500 to $1700 per ounce.
The source: ASX announcement
