PERTH (miningweekly.com) – Gold miner Ramelius Resources said on Monday it expected to set new production records in both the December quarter and for the full 2018 financial year, with the addition of the Edna May mine, in Western Australia.
The miner said that group production for the December quarter was expected to be between 51 000 oz and 55 000 oz, at an all-in sustaining cost (AISC) of about A$1 250/oz.
The Mt Magnet and Vivien operations, also in Western Australia, were expected to deliver a combined 32 000 oz of gold during the December quarter, while Edna May was expected to deliver 21 000 oz.
For the 2018 financial year, Ramelius was expecting to produce between 195 000 oz and 205 000 oz, at an AISC of between A$1 100/oz and A$1 200/oz.
Ramelius in October this year completed its purchase of the Edna May operation from fellow-listed gold miner Evolution Mining for A$40-million in up-front cash, and up to A$50-million of contingent payments, comprising royalties and cash, or Ramelius shares.
The company had previously reported a group gold production of 33 150 oz, at an AISC of A$1 209/oz for the three months to September.
Edited by: Creamer Media Reporter
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