Ramelius Unveils 1 Million Ounce Life of Mine Plan
Tuesday, June 18th, 2019
- Landmark +1,000,000 ounce Au life of mine plan (LoM) across 5 years, FY20 to FY24
- Average All-in Sustaining Costs (AISC) over life of mine at A$1,220 – A$1,320/oz
- LoM consists predominantly of Ore Reserves and Indicated Mineral Resources with only 12% of Inferred Resources*
- Tampia project Strategic Review complete confirming haulage option to Edna May mill
- Initial Resources & Reserves from recently acquired Tampia and Marda projects
- Greenfinch revised 16.6Ha Clearing Permit area submitted 14 June 2019
- Initial Mineral Resource at recent Symes’ Find discovery highlights potential for extensions
Ramelius Resources Limited (ASX:RMS) (“Ramelius”, “the Company”) is pleased to provide a significantly upgraded Life of Mine plan, along with updated Mineral Resource and Ore Reserve positions, to shareholders from its portfolio of assets located in Western Australia (refer Figure 5).
This mine plan confirms the ability of Ramelius to produce in excess of 1,000,000oz at an average AISC of A$1,220 – A$1,320/oz over a five year mine life with the potential to deliver further resource extensions from current operations.
In addition, Ramelius wishes to provide an update on the outcome of the Strategic Review over the Company’s recently acquired Tampia gold project near Narembeen, WA. The review has confirmed the economic benefits of open pit mining at Tampia and trucking ore to a modified Edna May processing plant approximately 140km to the north.
Ramelius Managing Director, Mark Zeptner, said: “This is a landmark result in the history of Ramelius Resources. Although we have been a successful gold miner for more than 10 years, we have never been in a position to demonstrate such a significant mine life. It is a testament to all of our team that we can now articulate a long-term plan with production scale, strong margins and an achievable approach to reserve replacement that gives us confidence that this visibility around mine life is here to stay.”
Ramelius Chairman, Kevin Lines, said: “This new mine plan, coupled with what we expect to be strong operating margins, allows Ramelius significant flexibility in pursuing additional value accretive acquisitions as well as opening the door for consistent dividend payments in accordance with the policy announced at our AGM in 2018.”http://www.rameliusresources.com.au