RAMELIUS RATCHET UP THEIR GOLD PRODUCTION TO EXCEED GUIDANCE WITH 72,896 OUNCES FOR THE QUARTER

Ramelius (ASX:RMS) have ratcheted up their Gold production by beating their guidance with a credible 72,896 ounces of Gold for the December quarter. The accomplishment was outlined in an announcement to the ASX on 5th January 2021.

The Company is also sitting with a respectable cash pile of over $221 million with only a debt burden of $8m leaving them in a tidy nett position of $213m cash. The Gold production was from two of their operating mines, Mt Magnet and Edna May.

Gold Production:

Mt Magnet: (includes Vivien) 43,055 ounces Edna May (includes Marda) 29,841 ounces

Eridanus Super Pit ( Recent drilling hits some wide zones)

The Current Pit contains a JORC compliant resource of 13mt @ 1.20g/t Au for 500,000 ounces. Recent drilling announced some spectacularly wide zones of minersalisation that will add to the Ramelius resources. Drill Intersections include:

203m @ 2.18 g/t Au from 279m 114m @ 1.11 g/t Au from 288m 103m @ 1.19 g/t Au from 319m

Ramelius reported that the forward sales contract are currently for 299,750 ounces at an average price of $A2,288 per ounce.

Goldman

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