PERTH (miningweekly.com) – Gold miner Ramelius Resources has missed out on its production target for the June quarter by mere ounces, reporting on Tuesday that gold production during the three months reached 29 859 oz, compared with the guidance of between 30 000 oz and 34 000 oz.
This is the second consecutive quarter that Ramelius missed out on its production forecast, after producing 28 083 oz during the March quarter.
During the June quarter, the Mt Magnet operation produced 18 504 oz of gold, with the Vivien mine producing the balance of 11 355 oz of gold.
Ramelius MD Mark Zeptner told shareholders that the company was well placed heading into the new financial year, with the Water Tank Hill underground deposit now developed and ready for production.
The Titan deposit was also performing well, Zeptner said, while mining at the Blackmans openpit, at the Mt Magnet operation, has been completed and was undergoing rehabilitation. The Vivien operation has settled close to its steady-state production level, he added.
With the miner missing its gold production guidance for the June quarter, unit costs for the period are expected to be slightly higher than the guidance of A$1 200/oz.