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(Kitco News) – Ramelius Resources (ASX: RMS) 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.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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