Ramelius is an ASX listed gold producer that is markedly stepping up production and their resource base.

In terms of Market Cap less cash divided by Resources Ramelius is a 5  (market cap ~$232 cash of $80m… and resources of 3,502,244 ozs) whereas AND is at 500.

A comparison of Australia’s gold producers ( done 5 days ago )  places RMS at the lower end of the current gold producers. Moreover RMS has very good grades, has all of its assets in Australia and their deposit is open at depth. I spoke with them recently following a company presentation and what they showed me was very impressive.

Today’s announcement gives more icing on the cake:
Drilling at the Mt Magnet gold project in Western Australia by Ramelius Resources (ASX: RMS) has been primarily designed to test existing mineralization, with the current pit designs and mineralization near and at depth below the pits.

Drilling completed has targeted the Saturn, Mars and Titan pits within the broader Galaxy project area, with new significant intersections below:

– 13m @ 8.48 g/t gold, including 6m @ 17.0 g/t gold;
– 23m @ 2.06 g/t gold, including 1m @ 11.0 g/t gold, plus 50m @ 2.47 g/t gold including 1m @ 21.0 g/t gold;
– 38m @ 6.32 g/t gold, including 3m @ 10.9 g/t gold and 13m @ 12.0 g/t gold; and
– 8m @ 4.10 g/t gold, including 2m @ 11.6 g/t gold.
In July 2010, Ramelius purchased the Mt Magnet gold project for A$40 million from Harmony Gold (Australia) Pty Ltd.

Mt Magnet has previously produced in excess of 5 million ounces of gold, highlighting significant potential for new discoveries.

I hold RMS