July 27, 2021

Markets Live, Tuesday 6 July, 2021

ASX gold miner Ramelius Resources was the worst performer on the market this morning after the firm undershot its June quarter production guidance, and will now miss its upgraded full-year target.

Shares in the $1.4 billion Western Australian miner dropped to a two-month low $1.64 at the open, and were last 4.2 per cent down at $1.6725, after it reported its Edna May production centre in Westonia had been affected by several minor issues over the last month.

In particular, heavy rain in the region reduced haulage volumes from the Marda operation, while periodic personnel shortages and a COVID-19 related lockdown at the end of the month limited the company’s ability to over-achieve late in the quarter.

Ramelius Resources missed its June quarter production guidance. Credit:Dermot Henry

Ramelus told investors ore haulage from the Tampia gold mine to the Edna May commenced on July 1,…

Read full article here: www.smh.com.au