Ramelius Resources Advises on Record Gold Production

Ramelius Resources Limited advised that it has exceeded the guidance range and produced record gold production of 58,671 ounces in the March 2018 Quarter from the Company’s operations in Western Australia. A brief update on operational, development and corporate activities follows.


  • Group Quarterly production of 58,671 ounces (Guidance: 54-58,000 ounces);
  • Mt Magnet contribution of 20,596 ounces;
  • Vivien contribution of 13,792 ounces; and
  • Edna May contribution of 24,283 ounces
  • YTD Group production of 149,833 ounces (YTD Guidance: 133-145,000 ounces)
  • On track for full year FY2018 Guidance of 200-210,000 ounces


  • Pre-strip development at Milky Way, Stellar/Stellar West now complete
  • Commencement of the pre-strip of the Shannon open pit, ahead of a likely underground project currently undergoing mine design work


  • Cash and gold on hand was A$75.4M at end of Quarter (Dec 2017 Qtr: A$61.8M)
  • A$6.5M expenditure on capital development during the Quarter at;
  • Shannon open pit – A$2.5M
  • Exploration (Mt Magnet & greenfields) – A$2.2M
  • Exploration (Edna May) – A$1.8M
  • At 31 March 2018, forward gold sales consisted of 149,500 ounces of gold at an average price of A$1,708/oz over the period to October 2019


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