Gold miner Ramelius Resources has launched a strategic review of its current suite of assets, after its board of directors concluded the company's stock was significantly undervalued.
Ramelius said today it aimed to realise greater shareholder value through the review.
The company is currently valued at around $60 million, which the board of directors believes is significantly below the value of its assets.
Ramelius also provided a production update today, saying it expected to produce around 21,000 ounces of gold in the current quarter after transitioning from its Wattle Dam mine to its Mt Magnet project.
It said it remained on track to increase production to more than 100,000oz/year with the addition of new projects including the Western Queen South, Coogee and Vivien operations.
Ramelius said it had $48 million in cash and gold on hand at the end of February.
At close of trade today, Ramelius shares were up 3 cents, trading at 34.5 cents.
