Tag: Ramelius

Ramelius Resources: The record-breaker

Ramelius Resources: The record-breaker

Ramelius Resources (ASX: RMS) continues to top itself with two new projects coming online in 2021 and record-breaking results in FY20. This comes off the back of two successful operational start-ups in FY20 at the Marda gold project, where a total of 449kt was mined at a grade of 1.78g/t for 25,656oz of contained gold, and the Greenfinch open pit at the Edna May gold mine, with a total of 117kt mined at a grade of 0.89g/t for 3380oz of contained gold. Wrapping up FY20, the company produced 230,426oz of gold, spent $19.8m on exploration and delivered a $113.4m profit after tax, a 420% improvement on the year before. Ramelius exceeded production guidance in the June and September 2020 quarters...

Ramelius ramps up M&A activity

Ramelius ramps up M&A activity

Ramelius Resources has committed to an early 2019 start for Edna May gold mine. Image: Ramelius Resources. BY AMY BLOM RAMELIUS Resources has its sights set on more gold, recently launching a takeover bid for junior explorer Explaurum and inking a deal to purchase Black Oak Minerals’ Marda project. In early September, the miner launched an all scrip $59 million takeover bid for Explaurum, which owns the Tampia project, 140km south of its Edna May gold mine in WA. Ramelius said it attempted to engage with the Explaurum board to “jointly explore a recommended deal”, but had not come to an agreement so decided to put its offer directly to shareholders. According to Ramelius managing director Mark...

Evolution’s ‘win-win’ Edna May deal

Evolution’s ‘win-win’ Edna May deal

Edna May is 350km east of Perth, WA. Image: Evolution Mining. BY ELIZABETH FABRI AUSTRALIA’S second largest gold miner Evolution Mining has agreed to sell its Edna May project in WA to Ramelius Resources for up to $90 million. After months of speculation, Evolution confirmed rumours in September that it would be offloading the WA mine to improve the quality of its asset portfolio. Ramelius’ annual group production will increase by an estimated 54 per cent to between 195,000oz and 205,000oz. The sale involved an initial $40 million cash payment, and an additional $20 million in cash or Ramelius shares upon a board approved decision to mine the Edna May Stage 3 open pit. Evolution will also receive royalty payments...