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Market: ASX
Sector: Gold Mining
Epic: ASX:RMS
News: Latest news
Web Site: Ramelius Resources
Other Articles: 05-02-201006-01-201030-11-2009

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Ramelius Resources

Ramelius Resources

Ramelius is a Western Australian focussed gold producer and nickel explorer with mining operations at Wattle Dam near Kambalda and milling facilities at Burbanks near Coolgardie.
Wednesday, January 06, 2010

Ramelius Resources announces record production at Wattle Dam

company news image

Shares in Australian-listed miner Ramelius Resources (ASX: RMS) rose 2.5c after announcing record production at the Wattle Dam Gold Mine, located in the Goldfields of Western Australia.

The Perth-based company recorded production of 19,970 oz gold @ 40.88g/t, while gold sales in the month of December 2009 totalled $19.9 million, which has exceeded total gold sales by Ramelius in any previous full financial year.

During the afternoon trade following the announcement, Ramelius shares jumped 2.5c, or 4.6%, to 57c.

Final results for milling of the initial Wattle Dam development ore parcel were 15,632 dry tonnes milled at a head grade 40.88g/t producing 19,970 oz of gold.

Ramelius chief executive Ian Gordon said the results from the development ore parcel were excellent, with actual grades more than three times that estimated from final underground sampling of 12.62 g/t Au.

"This grade overcall is similar to what was encountered during previous mining campaigns at Wattle Dam and gives the Company a high degree of confidence that the underground ore grades will continue to outperform base case estimates," Mr Gordon said.

In line with the mine plan, Ramelius has commenced stoping high grade underground ore at Wattle Dam and expects to commence milling this material from late January 2010.

Meanwhile, Ramelius currently has an interest in Dioro Exploration NL of 36.95%. Its offer for Dioro, which was recently increased to 2.1 Ramelius shares per Dioro share, will remain open until the 8th of February 2010.

 

 

 

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