Ramelius tops FY25 production guidance, eyes Spartan deal completion
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The news: Gold miner Ramelius Resources reported full-year production of 301,664 ounces, topping the upper end of its upgraded guidance range.
The numbers: Ramelius had guided full-year production of between 290,000 and 300,000 ounces.
Quarterly gold production of 73,454 ounces also came in ahead of forecast output of 62,000 to 72,000 ounces.
The company expects all-in sustaining costs to be at the lower end of its upgraded guidance range of between $1,550 and $1,650 per ounce.
The context: Ramelius, which agreed to buy smaller rival Spartan Resources in March, said the companies are currently "well advanced" in integration activities and associated studies. The miner expects Spartan shareholders to approve the scheme by 31 July.
What they said: "In the near term, we are working towards completion of our previously announced transaction with Spartan Resources," said managing director Mark Zeptner.
"We plan to embrace their exploration DNA which led to the discovery of the highest-grade undeveloped gold project in Australia, importantly right in our backyard."
The source: ASX
