HIGHLIGHTS
? Quarterly group gold production of 55,523 ounces at an AISC of A$1,975/oz, with gold
production exceeding internal Budgets for the Quarter, where annual production is
weighted to progressively stronger Quarters over the remainder of the financial year
? Ramelius remains well on track to achieve full year guidance with strong cash generation
projected for the full year, given the current Quarter outperformed internal expectations
? Cash & gold of A$259.2M (Jun 2023 Qtr: A$272.1M), with an operating cashflow of
A$44.3M and associated underlying free cash flow of A$6.4M, excluding a net payment
for the Musgrave transaction of A$17.0M which is made up as follows:
o A$23.6M paid to Musgrave shareholders and acquisition costs
o A$6.6M cash acquired from Musgrave takeover
? Resource & Reserve Statement 2023 was released 14 September 20231 with Mineral
Resources up 23% from the previous year
? Penny Mineral Resource increased 28% from 250,000 ounces to 320,000 ounces2
? Exploration drilling highlights received since the June 2023 Quarterly include:
o Penny Underground
? 3.3m at 49.1g/t Au from 389.0m
? 5.0m at 23.5g/t Au from 281.0m in Penny West, including
? 2.0m at 62.7g/t Au from 282.5m
o Bartus East Deeps (Mt Magnet)
? 17.5m at 3.95g/t Au from 375.5m
o ANT 4 Prospect (Mt Magnet)
? 9m at 7.81g/t Au from 25m
? Ore haulage to Edna May commenced at Symes
? Exploration diamond drilling commenced at Roe project, east of Kalgoorlie
FY24 PRODUCTION GUIDANCE MAINTAINED
? Group gold production Guidance for the December Qtr is 60,000 - 70,000 ounces
resulting in H1 FY24 Guidance of approximately 115,000 - 125,000 ounces
? H2 FY24 gold production Guidance remains at 135,000 - 150,000 ounces which also
retains the gold production Guidance for FY24 at between 250,000 - 275,000 ounces
? AISC for FY24 remains within Guidance between A$1,550 - 1,750/oz
? Capital & project development expenditure remains at A$50 - 60M
CORPORATE...
see & read more on
https://www.rameliusresources.com.au/wp-content/uploads/bsk-pdf-manager/2023/10/September-2023-Quarterly-Report.pdf