Ramelius Resources Limited (AU:RMS) has released an update.
Ramelius Resources Limited has received key mining approval for its Cue Project, with pre-feasibility showing strong potential: 250,000 ounces of gold with an all-in sustaining cost (AISC) of A$1,585/oz and a payback period of 7 months. The project, located near the company’s Mt Magnet operation in Western Australia, is set to begin early works in June 2024, with the board already approving commencement. Ramelius, with a cash balance exceeding A$500M, anticipates the project will complement its existing operations and enhance overall returns.
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