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Ramelius eyes Vivien start by June

Ramelius eyes Vivien start by June

Photo by Ramelius

29th April 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Ramelius Resources has started preliminary ground work at its Vivien gold project, in Western Australia, in the hopes of starting an underground mine portal during the June quarter of this year.

The preliminary site works included the construction of an 8 km dewatering pipeline to the Agnew gold mine, the start of pit dewatering, surface site set-up works and a partial openpit cut-back to expose the portal position.

A formal board decision on the start of the underground mine was expected shortly, and first ore was expected in late 2015.

A 2014 feasibility study into the Vivien project estimated that a capital expenditure of A$20-million would be required to allow Vivien to deliver about 109 000 oz of gold over a mine life of 30 months.

Ramelius said on Wednesday that financing options for the Vivien project were well advanced, and details of these would be provided concurrent with the start of the project.

The Vivien project, along with the proposed Kathleen Valley project and Ramelius’ producing Mt Magnet operation, was expected to increase the gold miner’s yearly production to about 130 000 oz/y by 2016.

During the quarter ended March, the Mt Magnet project, also in Western Australia, delivered 22 655 oz of gold.

“The March 2015 quarter was particularly strong for the company, both in terms of gold production and cash flow with the Mt Magnet operation returning to near-record performance, a solid follow-on from the breakout performance at the operation in the December quarter,” said Ramelius CEO Mark Zeptner.

Meanwhile, a bankable feasibility study at the Kathleen Valley project was completed in February, and Ramelius was hoping to start openpit mining at the operation before the end of June.

Two openpit operations at Kathleen Valley were expected to produce a total of 56 000 oz of gold.

Edited by Creamer Media Reporter

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