JOHANNESBURG (miningweekly.com) – ASX-listed gold miner Ramelius Resources has failed to meet its 30 000 oz to 34 000 oz production guidance for the March quarter, but MD Mark Zeptner said that the company was confident that production would bounce back in the June quarter.
Ramelius produced 28 083 oz in the March quarter, of which the Mt Magnet mine contributed 17 774 oz and the Vivien mine 10 309 oz. Both mines are in Western Australia.
Zeptner described the March quarter as a “tougher” one for the operations team, noting a cemented backfill programme had been completed at Vivien to fit a new mine plan and that Blackman’s openpit had underperformed on grade.
“Considering also some rain delays and a two-day ball mill bearing failure late in the quarter, which was subsequently rectified, the result was our first miss on guidance in over three years. Despite this, with Vivien back in stope production and Water Tank Hill due to hit ore in May, we are confident of bouncing back above the 30 000 oz production level in the June 2017 quarter.”
As a result of the lower-than-forecast production, Ramelius expects its unit costs to be higher than the guided A$1 100/oz.
The company will publish its full quarterly report later in April.
Edited by: Creamer Media Reporter
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