operations to achieve full year production
of 105,000 ounces in 2014, an additional
5,000
ounces the following year, and a new
milestone of between 110,000 and 115,000
from Mt Magnet’s total district operations
by 2016.”
The Mt Magnet mine itself has a mine
life currently of six years, with the added
opportunity for underground gold mining
operations in at least two deposits within the
company’s broader Mt Magnet province.
Unlike many of its gold company peers
in Western Australia’s resources fraternity,
Ramelius is debt free and able to fund
current operations from cash-flow.
While pursuing its other gold
developments in Queensland and Nevada
in the United States, Ramelius remained
active in WA in the opening half of FY2013,
bedding down the $10 million acquisition
from Gold Fields Ltd of the new Vivien high
grade gold project in WA. Located near
Agnew, Vivien has an existing indicated
resource of 579,000 tonnes at 8.3 g/t Au for
154,000
ounces of gold.
“
Vivien fits with the existing gold
development and mining skill sets within
Ramelius, and offers low cost capital
development via open pit then underground
mining,” Ian Gordon said.
Options for developing a potential high
grade open-pit at Coogee to feed into the
Burbanks mill – the main processing plant
for Wattle Dam – are also being canvassed.
The Coogee gold deposit is located
20
kilometres north-east of Kambalda.
Ramelius continues to hold a direct 7.5%
equity stake in fellow WA high grade gold
developer, Doray Minerals.
Top right: Aerial view, Mt Magnet mine
Right: Ramelius’ Mt Magnet miners
(
L-R) Evren Alancik, Rod Hardwick
and Rory MacFarlane