Name of the Project
Tampia gold project.

Location
The project is located near Narembeen, in Western Australia.

Project Owner/s
The Tampia project is 90%-owned by Ramelius Resources, along with a 10% minority holder who is free-carried until a decision to mine is made.

Project Description
A feasibility study has delivered a simplified processing solution for the project, resulting in a significant reduction in capital costs and a proportionate reduction in operating costs associated with processing.

The feasibility study has focused on the option to haul ore to Ramelius’s Edna May processing facility. This option, called the haulage option, has resulted in ore mined and processed increasing from 2.2-million tonnes in the May 2019 strategic review to 2.5-million tonnes in the April 2020 feasibility study, for contained gold of 210 000 oz.

Gold production has increased from 174 000 oz in the strategic review to 186 000 oz in the feasibility study.

The project currently has a total resource of 8.2-million tonnes grading 1.7 g/t gold and a total ore reserve of 2.5-million tonnes grading 2.7 g/t gold.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project had a net present value (NPV), at a 5% discount rate, of A$67-million in the May 2019 strategic review. In the April 2020 feasibility study, the NPV increased to A$116-million. The project had an internal rate of return of 66.1% in the May 2019 strategic review but it increased to 155.7% in the April 2020 feasibility study.

Capital Expenditure
The upfront capital cost has decreased from A$50-million in the May 2019 strategic review to A$26.4-million in the April 2020 feasibility study.

Planned Start/End Date
The projected start date for the Tampia pro­ject has been postponed from mid-2020 to the start of 2021 calendar year, owing to ongoing negotiations with the landowner and the 10% minority owner to resolve incomplete arrange­ments made with the previous tenement holders.

Latest Developments
None stated.

Key Contracts and Suppliers
Non stated.

Contact Details for Project Information
Ramelius Resources, tel +61 8 9202 1127 or email reception@rameliusresources.com.au.