Australian miner Ramelius Resources has upgraded its production guidance for the 2024 financial year, following a strong first half in which it produced 124 047 oz at an all-in sustaining cost (AISC) of A$1 899/oz.
December-quarter production was 68 524 oz at an AISC of A$1 837/oz, at the upper-end of the guidance of 50 000 oz and 70 000 oz.
The trend of increasing gold production is set to continue for the remainder of the financial year, resulting in Ramelius upgrading its 2024 gold output guidance. The company is now forecast to produce between 265 000 oz and 280 000 oz, from the previously guided 250 000 oz to 275 000 oz.
The AISC guidance for the year has been increased to a range of between A$1 750/oz and A$1 850/oz, with higher costs owing to increased production from the Edna May mine and one-off repairs at Mt Magnet CV01.
At the end of the December quarter, Ramelius had cash and gold of A$281.9-million.
Meanwhile, Ramelius appointed Centerra Gold's Darren Millman as CFO with effect from May 1.
"The company is delighted to be able to attract someone of Darren’s calibre to the role of CFO. Darren has significant global experience within the resources industry, and his expertise in financial management, capital markets, business development and investor relations will be invaluable as Ramelius continues to pursue its growth strategy," said MD Mark Zeptner.