PERTH (miningweekly.com) – Gold miner Ramelius Resources has revealed a new life-of-mine (LoM) plan for its combined Mt Magnet and Vivien operations, in Western Australia, which will see the recovery of about 545 000 oz over four years, starting in 2018.
The miner this week said that the updated production profile showed a slight increase in production of 126 000 oz to 130 000 oz in 2017, to 130 000 oz in 2018.
Production will average at 135 000 oz/y over the LoM, while on the growth curve towards the targeted 150 000 oz/y production level.
All-in sustaining costs (AISC) are expected to be A$1 170/oz over the LoM.
The updated LoM plan was achieved on the back of several ore reserve upgrades at both the Mt Magnet openpit mine and the Vivien underground operation.
Ramelius told shareholders that with deeper exploration currently under way at the Morning Star and Vivien operations, and access available for exploration at both Water Tank Hill and the Galaxy Complex later in the year, foundations were in place for a further mine plan upgrade in the next six to nine months.
Edited by: Creamer Media Reporter
EMAIL THIS ARTICLE SAVE THIS ARTICLE
ARTICLE ENQUIRY
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
