Ramelius Delivers 10-Year Mine Plan at Mt Magnet

Ramelius Resources (ASX: RMS) recently unveiled its comprehensive 10-year mine plan for the Mt Magnet project, detailing significant highlights and strategic directions for the future. With an emphasis on sustainable gold production and capital optimization, the plan outlines various milestones and targets across multiple operational areas.

Key Highlights:

• Production Targets: The plan targets total gold production exceeding 1.5 million ounces over the next decade, with an average annual output of approximately 150,000 ounces.
• Cost Efficiency: Ramelius aims to maintain all-in sustaining costs (AISC) between A$1,600 – 1,800/oz, with a lower AISC range of A$1,250 – 1,450/oz in the initial 3.5 years of operation.
• Capital Allocation: Growth capital expenditure is estimated between A$360 – 400 million, strategically allocated across various projects within the plan.
• Cash Flow Projection: The plan forecasts significant cash flow generation of A$1.7 billion, particularly buoyed by a gold price of A$3,000/oz.
• Mine Longevity: Mt Magnet's mine plan spans over 10 years, with ongoing exploration efforts aimed at extending operational life further.
• Exploration and Expansion: Exploration activities continue with a focus on extending mineral resources at Penny, Cue, and Bartus, among others.

Operational Updates:

• Penny: Updates include an updated mineral resource of 380kt at 22g/t Au, with Penny West now integrated into the production target, effective from July 2024.
• Cue: Mining operations are set to commence in the first quarter of FY25, with updated open-pit mineral resources totaling 10Mt at 2.0g/t Au.
• Eridanus: The underground option presents significant potential, with a mineral resource of 18Mt at 1.3g/t Au. An open-pit cutback option is also under consideration.
• Bartus: A new addition to the mine plan, Bartus showcases an updated mineral resource of 2.2Mt at 2.4g/t Au, further enhancing the project's overall potential.

Conclusion:

The Mt Magnet 10-year mine plan underscores Ramelius Resources' commitment to sustainable and profitable gold production. With a robust strategy in place, backed by comprehensive operational updates and exploration initiatives, Ramelius aims to solidify its position as a leading player in the gold mining industry.

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