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a current six-year mine life at Mount
Magnet through until at least 2017.
Not only is the work fully funded
internally, keeping Ramelius debt
free, but it has backed up its 3 million
ounce JORC resource acquisition
at Mount Magnet with a $5 million
exploration spend there to prove up
additional gold resources.
For Ian Gordon, the man at the
helm of Ramelius as its Managing
Director and who enjoyed seeing the
company join the S&P ASX Top 300
list during 2011, the pending dual
gold stream from a combined Wattle
Dam-Mount Magnet profile will
keep Ramelius on track to achieve its target of 230,000 ounces
of production per annum by 2013-2014.
“In particular, our very strong cash position means that not
only can we keep one eye on ensuring we retain our mantle as
Australia’s low cost, highest grade producer, but we can freely
look out for additional gold play acquisitions that can value add,
not just because of the high gold price, but because Ramelius
can inject into them our experience in bringing gold projects
competitively to market.
“We are conscious that some analysts are predicting gold to
average $2,075 an ounce in 2012 – that’s around three times its
price of just three years ago. While that appears a tsunami-like
price performance, there is little doubt more investors will adopt
gold next year as the debt crises facing European countries, and
even the US, keeps market confidence at low ebbs.
“One thing Ramelius won’t be doing is abandoning our long-
term objectives and performance
criteria for some short-term flip
in this heated gold environment
– as eventually, all commodities
become part of an upward and
downward price and demand cycle.
Our preference is to be diligent
and focused in how we manage
existing assets and how we assess
new opportunities.
“Certainly, we expect gold’s
universal and time tested appeal as
a hedge currency to be maintained
– so Ramelius remains in the right
commodity at the right time going
into 2012.”
• Feasibility Studies
• Design
• Asset Management
• Reliability & Maintenance
• Audits & Investigations
• Project Management
• Construction Management
consulting division of Holtfreters Pty Ltd
“Taking your mine froman idea to an operation”
Ground Floor, 1 Centro Ave
SUBIACO WA 6008
ABN: 64 064 105 488
Tel: (08) 9442 3333
Fax: (08) 9442 3399
info@mintrex.com.au
www.mintrex.com.au
PROJECT MANAGERS
CONSULT ING ENGINEERS
&
WATTLE DAM MADE
A SUCCESSFUL
TRANSITION
FROM OPEN-PIT
MINING TO STRONG
UNDERGROUND
GOLD PRODUCTION
A PREVIOUS
OPEN-PIT AT
MOUNT MAGNET