Ramelius up on pre-tax profit guidance

Shares in gold miner Ramelius Resources have jumped after it flagged a three-fold half year pre-tax profit increase.

Perth-based Ramelius reported it expected its half year pre tax profit to spike to $47 million, up from $14.3 million for the previous half-year.

The jump in pre-tax profit came on the back of higher gold production at its Wattle Dam underground gold mine, which pushed revenue for the half year to $83.6 million.

Over the previous corresponding six months gold sales revenue was 20.6 million.

At 2:00PM (WST) Ramelius shares had gained 6 per cent, to trade at $1.21.