Ramelius cuts costs
Gold miner Ramelius Resources has reduced its cash costs and produced more than 25,000 ounces of gold in the June quarter.
The Perth-based company produced 25,422 fine ounces of gold at a cash cost of $1013 per ounce in the June quarter, down from $1213 in the previous quarter.
In the September quarter Ramelius expects to produce 18,000 to 19,000 ounces of gold at its Mount Magnet operations and 3000 to 4000 ounces at its Burbanks operations.
The company reported gold sales for the June 2014 quarter of $35.8 million at an average price of $1376 per ounce.
During the quarter mining engineer and chief operating officer Mark Zeptner took over from Ian Gordon as the company's chief executive.
Ramelius shares were steady at 6.6 cents at 12.40pm.
