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As previously reported, group gold production for the quarter was 23,637 ounces, beating guidance of 19,000-21,000oz, at all-in sustaining costs of $A1258 an ounce, below the targeted $1350/oz.
Both the Kathleen Valley and Mt Magnet mines beat guidance.
Guidance for the December quarter is 23,000-25,000oz at an AISC of $1250/oz, with each mine expected to contribute 12,000oz.
Ramelius has lifted its 2016 financial year guidance to 104,000oz at $1200/oz from 99,000oz at $1250/oz.
“The September 2015 quarter was an excellent performance by the operations team, returning the company back above the 20,000oz mark with the FY16 year guidance in turn upgraded to 104,000oz,” Ramelius managing director Mark Zeptner said.
“Having both the new operations in production is certainly exciting for Ramelius and the Percy pit at Mt Magnet is starting to mine better grade around the old Hill 50 underground stopes.”
The new Vivien mine will start production shortly.
Quarterly gold sales were $35.8 million at an average price of $1565/oz.
Ramelius’ cash and bullion increased to $39.2 million from $36.3 million, after expenditure of $6.4 million on development and exploration.
Based on today’s quarterly, Taylor Collison upgraded Ramelius from speculative buy to buy, and boosted its price target to 39c from 20c.
Shares in Ramelius dropped 4.1% to 23c.
