Ramelius Resources Limited (ASX:RMS) ramping things up

Shares in emerging gold mining and production company Ramelius Resources Limited (ASX: RMS) are up 1% to 48c per share off the back of its September quarter production update released today.

According to the announcement, Ramelius has met production guidance for the quarter with 51,428 ounces of gold produced from Western Australia operations, with cash and gold balance at record levels of $102.4 million.

Ramelius’ Edna May operation was the star over the period, chipping in almost half of the production total with 24,655 ounces produced.

Busy times are afoot at Ramelius after it announced a takeover offer for Explaurum Ltd (ASX: EXU) in early September with the acquisition of the Marda Gold project also announced the same month.

Heavyweight gold producer Evolution Mining Ltd (ASX: EVN) is also on the up today with a share price rise of 2.2% to $2.78 at the time of writing while Northern Star Resources Ltd (ASX: NST) shares are down 1% at the time of writing to $8.56.

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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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