Ramelius Resources Limited Updated the June 2018 Quarter Production Details

Achieved Guidance and Produced 58,285 ounces of gold in the June 2018 Quarter: Ramelius Resources Limited (ASX: RMS) in an update for June 2018 production showed that the company has achieved guidance of 58-62,000 ounces, as it has produced 58,285 ounces of gold from the company’s operations in Western Australia. The company’s cash & gold at bank has increased to A$95.5M at the end of June 2018 quarter. During 2018, RMS has produced 208,118 ounces and the company had given the guidance for production to be 205-215,000 ounces. Further, as at 30 June 2018, the forward gold sales consisted of 140,250 ounces of gold at an average price of A$1,719/oz over the period to November 2019. RMS in the June quarter has done A$8.8M expenditure on capital development. Moreover, RMS’s Edna May open pit Stage 3 and underground mining studies are running in parallel and expected to be completed in the September 2018 Quarter. The ongoing pre-strip of the Shannon open pit, which is ahead of a likely underground project, is currently in the final stages of mine design work and Ore Reserves estimations. Meanwhile, RMS stock has risen 7.62% in three months as on July 6th, 2018  and is trading at a P/E of 16.28x.


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