- Ramelius Resources (RMS) has announced an upgrade to its production guidance range for the June 2020 quarter and full 2020 financial year, with production exceeding expectations and breaking new records
- The gold producer has produced over 74,000 ounces of gold as of June 21, 2020 — a new record in quarterly production
- It also bumps the company’s full 2020 financial year production guide to a record range, with between 225,000 and 230,000 ounces of gold expected to be produced
- Despite the June quarter record already being reached, another two weekly gold pours are expected this quarter
- Ramelius opened the day trading at $2.02 per share, a rise of 12.9 per cent
A strong June quarter for gold producer Ramelius (RMS), has seen the company upgrade its production totals for the quarter and full 2020 financial year, to break new records.
A record 74,371 ounces of gold have been produced so far this June quarter, with another two weekly gold pours still expected.
All up, the company expects to produce over 80,000 ounces of gold over the quarter.
The strong results also pushes the gold producer’s full 2020 financial year expected production results to a new record, with between 225,000 and 230,000 ounces of gold now expected to be produced.
Ramelius Managing Director Mark Zeptner says it’s an outstanding result, considering the COVID-19 pandemic.
“We are obviously delighted by the operational performance in achieving records in both quarterly and annual gold production, particularly against the backdrop of COVID-19 and the additional administrative requirements the pandemic has necessitated,” he said.
“We remain confident that Ramelius, with its high-performing team, excellent cash generation and enviable balance sheet, is very well positioned for the next stage of growth,” Mark added.
The strong results are being credited to strong performances from the company’s multiple Western Australian production sites, but in particular its Mt Magnet site.
More information about production and quarterly activities will be made available by the gold producer next month.
Ramelius opened the day with shares trading at $2.02 each, a rise of 12.9 per cent