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Ramelius Resources Limited (ASX:RMS) shares up on operational update

Emerging gold mining and production company Ramelius Resources Limited (ASX: RMS) shares are up 0.8% to 57c per share at the time of writing after the release of its June quarter production update today.

Ramelius has met its guidance for the third consecutive quarter by producing 58,285 ounces of gold from its Western Australian operations with cash and gold in the bank increasing to $95.5 million over the period.

Ramelius has reaffirmed full-year production guidance of between 205,000 ounces and 215,000 ounces with an estimate of 208,118 ounces.

Fellow evolving gold player Dacian Gold Ltd (ASX: DCN) shares are also up after the company logged a favourable production update last week.

Dacian revealed it met its maiden guidance of 34,155 ounces in the June quarter out of its Mt Morgan operation in Western Australia with FY19 guidance reaffirmed.

Both small caps have a long way to go before they reach the heights of Newcrest Mining Limited (ASX: NCM) or Evolution Mining Ltd (ASX: EVN) but appear to be asserting themselves as serious contenders in the industry.

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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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