Ramelius Resources Limited (ASX: RMS) - RMS unfolds more resources at Mt magnet

  • Aug 06, 2018 AEST
  • Team Kalkine
Ramelius Resources Limited (ASX: RMS) - RMS unfolds more resources at Mt magnet

Ramelius Resources Limited (ASX: RMS) made new discoveries at Mt Magnet, a century old gold mine located in the Murchison region of Western Australia. The company announced the increase of maiden open pit Mineral resource at Eridanus and maiden underground Ore Reserves at Hill 60 and Shannon.

The exploration and new resource drilling activities at Mt Magnet started in late 2017 which continues to yield positive results as stated by the company. The combined estimates of indicated and inferred Mineral Resource from new drilling conducted in past one year amounts to 146koz Au in new Eridanus deposits, 115koz Au in Shannon, and 50koz in Hill 60.

With the discovery cost of $40 per resource ounce over the last 12 months of drilling, the management finds the investment justified to the new drilling activities at Mt Magnet.

While in aggregate the new discoveries of ore reserve estimate to 74koz Au, maiden underground ore reserve of indicated category at Shannon deposits numbers to 54koz Au and at Hill 60 to 24koz Au.

The company aims of becoming a mid-tier gold producer with the target of producing more than 200,000 ounces of gold in FY2019.

The Annual Resources and Reserves statement for 2018 is slated to be released by the end of September 2018.

RMS stock had a closing price of $0.525 on August 06, 2018, up about 1% under the daily change.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.


All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK