Gold miners Ramelius Resources and Doray Minerals achieved record quarterly production over the past three months, while Regis Resources’ output was hampered by severe weather and flooding at its Garden Well and Rosemont operations.
Ramelius also said it had reduced its cash costs over the period, down to $1,213 per ounce in the March quarter, a reduction on December’s $1,450/oz.
The miner produced 27,653 ounces of gold in the three months to March 31.
Meanwhile, Doray Minerals cemented itself as one of WA’s lowest cost gold producers, with its all-in sustaining costs for the quarter coming in at $1,070/oz.
Doray produced 20,054 ounces of gold in the quarter, which was its second full quarter of production from its Andy Well mine.
The miner’s managing director Allan Kelly said Doray had been able to substantially reduce its debt after the record production.
“Combined with the recent oversubscribed capital raising and renegotiation of the debt repayment and reserving schedule, the company is in a very strong financial position,” Mr Kelly said in a statement.
Also today, Regis Resources said its quarterly production came in at 64,176 ounces.
At Regis’ Garden Well mine, production was down around 10,000 ounces because of major flooding of the open pit, with pumping and reactivation works proceeding well.
The company’s Rosemont gold project was also affected by the bad weather, producing around 2,500 ounces less than the previous quarter.
Regis’ Moolart Well operation was unaffected by the weather, and produced 26,434 ounces for the quarter.
Regis said it sold 66,249 ounces of gold at an average price of $1,447/oz in the three months to March 31.
At close of trade today, Ramelius shares were steady at 11 cents, Doray’s stock gained almost 3 per cent to finish at 89.5 cents, while Regis Resources shares were down 0.8 per cent at $2.40.
