Bad weather rains on Ramelius’ parade

A literal series of unfortunate events has forced Ramelius Resources to lower its gold production estimate for FY22.

The company reported that due to more persistent rain than forecast on some of the haulage routes to both the Mt Magnet and Edna May operations in Western Australia, ongoing staff shortages due to COVID, and a lower than expected head grade from the Tampia mine, gold production for the period will fall marginally short of the current guidance range of 260,000—265,000 ounces.

Based on gold outturns received this week and updated road haulage and head grade estimates, the figures have been revised down to 255,000–260,000 oz.

Despite the revised production guidance, Ramelius says it is presently too early to provide a definitive view on the All-In Sustaining Costs for FY22; however, at this stage there is no reason to expect a change from the previously provided range of $1475–$1,525/oz.

Ramelius will confirm the actual results for FY22 and provide guidance for FY23 when the June Quarterly report is released later in July.

About Ray Chan

Editor of industrial titles and mastheads with Prime Creative Media. Publications include Rail Express and Australian Mining (web content).

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