Ramelius says its Sept qtr gold production exceeded expectations

- Ramelius Resources reported on Monday its September quarter gold production of 55,523 ounces, with gold production exceeding internal budgets for the quarter.

Ramelius said in a press release it remains “well on track” to achieve its full year guidance of 250,000 - 275,000 ounces with “strong” cash generation projected for the full year, “given the current quarter outperformed internal expectations.” As at 30 September 2023, the company had A$238.4M of cash and A$20.8M of gold bullion on hand for a net cash and gold position at the end of the quarter of A$259.2M.

Ramelius owns and operates the Mt Magnet, Edna May, Marda, Tampia and Penny gold mines, all of which are located in Western Australia. Ramelius now effectively has 100% ownership of Musgrave Minerals, and as such, the Cue gold project which is just 40km north of Mt Magnet.

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