- Ramelius Resources (RMS) has exceeded its gold production guidance for the September quarter
- The gold producer expected to produce between 65,000 and 70,000 ounces of gold across its Mt Magnet and Edna May projects in WA
- However, it surpassed this and reached 71,344 ounces of produced gold
- Ramelius also ended the quarter in a strong financial position with a cash and gold balance of just under $222 million
- Further, underlying cash and gold increased by $44.6 million over the quarter
- The company will release further details of quarterly activities later this month
- Company shares are up a slight 1.93 per cent and trading for $2.11
Ramelius Resources (RMS) has exceeded its production guidance for the September quarter.
Its guidance for the quarter was between 65,000 and 70,000. Pleasingly, the company produced 71,344 ounces of gold from its Mt Magnet and Edna May operations in Western Australia.
A total of 41,064 ounces came from Mt Magnet with the remaining 30,280 produced from Edna May.
At the end of the quarter, Ramelius had a cash and gold balance of $221.9 million which compares favourably to the $185.5 million it closed the June quarter with. However, the company’s net cash position was $205.7 million at the end of the September quarter.
Further, underlying cash and gold increased by $44.6 million over the quarter.
Ramelius’ balance sheet is strong with a reduced debt figure of $16.25 million following an $8.1 million debt repayment.
The company will release further details of quarterly activities later this month when it releases its full quarterly report.
Company shares are up a slight 1.93 per cent and trading for $2.11 at 1:28 pm AEST.