https://www.miningweekly.com

Ramelius sees 22% increase in earnings

17th February 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold miner Ramelius Resources has reported a 22% increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to A$49-million for the six months to December 31, compared with Ebitda of A$40.3-million in the six months to December 2015.

Revenue was up 38% to A$106.3-million for the period under review on the back of a 31% increase in gold production, which reached 67 546 oz.

During the half-year, Ramelius increased cash and gold to A$95-million after A$19.1-million was spent on capital development, including A$9-million on openpit pre-strips at the Mt Magnet operation, in Western Australia, A$4.2-million at Water Tank Hill, A$500 000 on site rehabilitation at the Kathleen Valley operation, and a further A$5.4-million on exploration.

Ramelius told shareholders that the investment in its assets during the half-year placed the company in a strong position as it progresses both the Vivien and Water Tank Hill underground mines, along with significant focus on mine life extensions through brownfield exploration, in the period leading to June 30.

Edited by Creamer Media Reporter

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.103 0.136s - 88pq - 2rq
Subscribe Now