Ramelius Resources (ASX: RMS) has delivered a record gold pour for the June quarter 2013 of 17,100 ounces from the company's Mt Magnet gold project, which is a 17.5% over the preceding three months.
The company remains extremely well-funded in the current market environment, and at the end of June 2013 had cash and gold on hand of $37.4 million, and available for sale securities of $3 million.
Considering the recent fall in the gold price, Ramelius said that it is currently undertaking a review of capital and operational costs for the current year to ensure the project is cash flow positive in the current gold price environment.
Gold production guidance for financial year 2014 will be in the upcoming June quarterly.
Pre-strip at Western Queen South; additional projects
Ramelius also provided an update that the pre-strip of the high grade Western Queen South project is proceeding on schedule with 560,000 BCM of a pit total 1.3M BCM moved by the end of June.
This will allow the first ore to be delivered to Mt Magnet at the end of August 2013.
Across at the Coogee gold project, site set up activities have commenced and mining will commence in August.
The high grade Coogee ore will be milled at the company’s Burbanks treatment plant from November 2013, and in the interim the company will continue toll milling third party ore.
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