Mt Magnet output to increase to 100 000 oz in 2013/14
PERTH (miningweekly.com) - Gold miner Ramelius Resources reported on Monday that production at its Mount Magnet operation, in Western Australia, was set to increase further as the Western Queen South project came on-line.
A project management plan for the Western Queen South project was submitted during the quarter ended December, and the project received approval to start mining.
Ramelius noted that site activities would start this month, with the Western Queen South operation expected to produce some 23 000 oz in the 2013/14 financial year, increasing the Mount Magnet production to 100 000 oz for that year.
During the three months under review, the Mount Magnet operation produced 14 433 oz of fine gold, up from the 12 173 oz produced in the previous three months. Recovered gold production from the operation also increased by 25%, to 14 742 oz.
Meanwhile, the Wattle Dam operation, which was winding down, produced some 5 798 oz of fine gold during the quarter under review.
Ramelius told shareholders on Monday that full production of 20 231 oz was in line with expectations for the quarter, and added that a similar production profile was expected for the March and June quarters of this year.
During the March quarter, the Mount Magnet operation was expected to produce some 17 000 oz of gold, with potential to increase the milled grade by modifying the grade control and blasting procedures.
Meanwhile, a mining proposal had also been prepared for the Coogee project and, subject to board and statutory approvals, mining at Coogee was expected to start in the June quarter of this year.
Ore from the project would be treated at the Burbanks gold plant.
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