Australia's Ramelius Resources hits 3-1/2-year high on production forecast hike

Ramelius Resources

22/04/2024 03:31

** Shares of Ramelius Resources  RMS.AX  rise as much as
2.9% to A$2.12, their highest since Nov. 10, 2020
    ** Stock up for a fifth straight session
    ** Gold explorer and developer raises FY24 production
forecast to 285,000–295,000 ounces at an all-in sustaining cost
(AISC) of A$1,550–A$1,650/oz, compared with recent forecast of
265,000–280,000 at an AISC of A$1,750–A$1,850/oz
    ** Says H2 FY24 gold production forecast upgraded to
162,500–172,500 ounces at an AISC of A$1,325–A$1,425/oz, up from
140,000–155,000 ounces at an AISC of A$1,700–A$1,800/oz
    ** Co reports quarterly group gold production of 86,928
ounces at an AISC of A$1,344/oz
    ** Stock had risen 22.3% this year, as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))