Ramelius Resources Limited
Ramelius Resources Limited
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The loss of more than seven days’ downtime due to a mill motor fault at its Edna May project has seen West Australian miner Ramelius Resources’ March qtr (Q3FY21) gold production slip to 66,029oz, down from 72,896oz in the previous period but within its 65,000-70,000oz guidance.
The Edna May/Marda project delivered 24,197t (Q2FY21: 29,841oz) and Mt Magnet/Vivien output also dipped to 41,832oz (43,055oz).
Higher realised gold prices and improving grades at its West Australian mines have enabled Ramelius Resources to continue solid earnings through the Dec half-year (H1FY21), delivering record NPAT of $A81.3M from $20.5M in the previous corresponding period. EBITDA was $192.8M ($65.9M), highlighting a margin of 56.3%.
The result was achieved on gold production of 144,240oz (92,084oz) at AISC of $1,261/oz ($1,240/oz) delivering sales revenue of $342.2M ($158.5M). Net cash and bullion rose to $213.4M ($87.7M).
West Australian miner Ramelius Resources has again exceeded guidance in the Dec 2020 qtr (Q2FY21) while delivering strong operating cash-flows that support capital and project development investment as well as its FY20 dividend payout.
Q2 gold production of 72,896oz compares with guidance of 67,000-72,000oz and exceeds the 47,902oz recorded in the corresponding period. It comprised 43,055oz from the Mt Magnet project now including the Vivien operation (Q2FY20: 37,956oz) and 29,841oz from Edna May (9,946oz).
Australian miner Ramelius Resources credits compelling financial outcomes from its full feasibility study for its decision to bring forward the planned first production from its recently acquired Penny gold project to mid-2021. John Feary reports
Australian miner Ramelius Resources has brought forward the restart of mining at its Penny project in WA to the June 2021 qtr after completing a favourable feasibility study. Its planned start date was previously the Sept 2021 qtr.
The FS outlines LOM openpit and underground production of 238,000oz gold over an initial 3.8 years for processing at Ramelius’s Mt Magnet plant, 170km away.
Australian miner Ramelius Resources has lifted its cash and gold at an all-time high of $A221.9M, up from $185.5M previously, after posting AISC of $A1,240/oz for its Sept qtr (Q1FY21) gold production of 71,344oz, beating its guidance of $1,250-1,350/oz. The result compares with the June qtr’s 86,517oz at $1,041/oz.
Gold sales of 70,299oz at $2,323/oz (Q4FY20: 89,345oz at $2,223/oz) delivered total revenue of $163.3M ($198.6M).
Ramelius Resources has kicked off FY2021 with Sept 2020 qtr (Q1 21) gold production from its Western Australia operations of 71,344oz, exceeding guidance of 65,000oz-70,000oz, but well down on Q4 20’s record 86,517oz.
The decline was on Mt Magnet (incl Vivien) output sliding to 41,064oz from the previous qtr’s 61,161oz, but Edna May (incl Marda) up to 30,280oz from 25,356oz.
The company finished Q1 21 with cash/gold on hand up to $A221.9M from Q4 20’s $185.5M.
Ramelius Resources has knocked up record June 2020 year (FY20) gold production from of its Western Australia operations to 230,426oz from FY19’s 196,679, with AISC down to $A1,164oz from $1,192oz.
And the company is expecting more in FY21, another record up to 260,000oz-280,000oz at AISC up to $1,230oz-$1,330oz, with 155,000oz from Mt Magnet (incl Vivien) and 115,000oz from Edna May (incl Marda).
Ramelius Resources has stuck with West Australian contractor MACA for mining services at its Mt Magnet gold project, awarding it a 3-year extension of its contract to provide openpit mining, drilling and blasting, loading and hauling. MACA has been operating at the mine 560km NE of Perth under an initial $100M contract since mid-2017.
The project extension is expected to generate $A130M revenue for MACA over the 3 years and lifts the contractor’s total work in hand to $2.3B.
Record June qtr (Q4) gold production of 86,517oz has enabled Australian miner Ramelius Resources to exceed its revised full year guidance of 225,000-230,000oz from its Mt Magnet and Edna May production centres in WA.
Ramelius posted FY20 gold production of 230,426oz, up from 196,679oz a year earlier.
The company is now forecasting FY21 production of 270,000oz as part of a revised revised life of mine plan that predicts total output of 1.4Moz gold over the next six years.