Gold! Gold! Gold! Gold!

Over the last 11 years

Quick update: RMS has continued its stellar performance and has upped their year on year profit by 300%.

The Directors of Ramelius Resources Limited (ASX: “RMS”) are pleased to advise that the Company’s profit for the full year to 30 June 2011 is expected to be substantially higher than the previous corresponding period.

Unaudited consolidated total Profit before Income Tax for the year ended 30 June 2011 is expected to be approximately $90m, compared to a consolidated total Profit before Income Tax of $28.7m reported for the previous financial year.

The expected pre‐tax profit is based on gross gold sales revenue of $147.6m arising from gold production in excess of 100,000 ounces milled during the year from the Company’s 100% owned Wattle Dam underground gold mine located in the Eastern Goldfields of Western Australia.The increase in profitability was driven by increased production from Wattle Dam and improved A$ gold prices.

Ramelius Managing Director, Ian Gordon, said, “this exceptional result is a reflection of the quality of the Wattle Dam orebody which has not only delivered excellent grades but is also likely to be mined well into the future as we continue to delineate extensions to the resource at depth”.

Ramelius advises that the above profit guidance for the year to 30 June 2011 is only approximate, based on internal draft management accounts and is subject to completion of the 2010‐11 financial report and audit.

Nice to see one of our most respected broking/research houses putting a buy onto AQG. WilsonHTM seem to be impressed with the cash cost of US$542 per oz.

Personally I’m impressed with the growth in resources and the further upside. It isn’t far fetched to think AQG will be in our top 4 gold producers before long. (Displacing RSG and EAU) - time will tell.

Alacer Gold Announces Second Quarter Operating Results

Alacer continues its upwards momentum and is rapidly becoming a major gold producer with a pleasing production cost. Being under a year old Alacer isn’t yet on Australian investors radars and few brokers seem to be knowledgeable about its current position and prospects.

“Alacer Gold Corp. was formed following the successful merger of Anatolia Minerals Development, a TSX listed company and Avoca Resources Limited, Australia’s third largest ASX listed gold producer. The merger was completed on February 18, 2011.”

Today’s announcement substantially upgrades the previous estimates of : “Through the merger, Alacer Gold has emerged as a leading global intermediate gold producer and explorer with a globally diversified asset portfolio in Australia and Turkey. Alacer Gold is forecasting gold production of 600,000 ounces of gold in CY2013, with an expected increase to 800,000 ounces in CY2015 and current gold reserves of 3.5 million ounces and gold resources approaching 15 million ounces.”

I hold Alacer.

Today’s (25th July 2011) ASX announcement presents some rather startling results and shows the discovery of a new type of Gold deposit for Australia: A Tellurium - Gold mix. The gold grades are in the “bonanza” zone and the tellerium grades are very high at up to 3,500ppm. (The crustal abundance of tellurium is 1/500th of the rarest of the REEs).

“The US now only owes the equivalent of 340,000 tonnes of gold – still more than the total sum of gold ever mined (twice as much, in fact, according to best estimates) and way above the 8,113.5 tonnes the United States Treasury says it holds between Fort Knox and the New York Fed.”

Ramelius Resources has wrapped up the financial year with production of more than 100,000 ounces from its Wattle Dam gold mine, one of the country’s lowest-cost precious metals operations, and flagged the imminent start of operations at its Mt Magnet project. http://au.news.yahoo.com/thewest/business/a/-/wa/9798784/ramelius-confounds-sceptics-with-strong-production/

See multiple posts about RMS by Sparty