sneg
Yes great news imo.
Just a correction to your post though. They expect to be in production in the second half of this calendar year (CY) not this fiscal year (FY) which ends in June next year.
So looks like it could come on stream even slighty earlier than previously indicated. That's a tick.
And the cap costs at $28m seem to be lower than previously estimated. That's another tick.
Note the operational costs of just under $900 per ounce. This makes Mt Magnet a reasonably high cost operation, very different from Wattle Dam. But still a profitable venture given the gold price, and without debt or hedging.
Fantastic expansion to the Ramelius story imo. Well done to the RMS team.
board approves mining at mt magnet , page-3
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