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Australia
Mt Magnet Operation (Penny Mine, Vivien Mine)

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 Location:
322 km NE from Geraldton, Western Australia, Australia

  Regional Office:
Level 1, 130 Royal Street
East Perth
Western Australia, Austria
6004
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WebsiteWeb
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  • Overview
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  • Mining
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  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit & Underground
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Sub-level stoping
  • Longhole open stoping
Production Start...
Mine Life2030
The Mount Magnet project consists of mining and processing of gold from the Mt Magnet region including the Vivien and Penny Gold Mines.

The economic indicators of Mt Magnet and Vivien were merged in 2019 fiscal year.


Owners

Source: p. 13
CompanyInterestOwnership
Ramelius Resources Ltd. (operator) 100 % Indirect
Mineral tenement and land tenure status is 100% owned by Mt Magnet Gold Pty Ltd, a wholly owned subsidiary of RMS.

Contractors

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Deposit Type

  • Banded iron formation hosted


Summary:

The Mt Magnet project is located within the north-south striking Meekatharra-Mt Magnet greenstone belt of the Western Australian Murchison Province. The greenstone belt lithologies comprise a succession of steeply dipping and intensely deformed plus interlayered mafic and ultramafic extrusive and intrusive rocks, felsic volcanics and banded iron formations (BIF). Granitic rocks intrude the greenstone belt stratigraphy.

Banded iron formations are the dominant host rocks for gold mineralisation in the project. Gold mineralisation is typically associated the pyrite & pyrrhotite replacement of magnetite in the banded iron. High-grade ore shoots are developed along the intersection of the BIF and a swarm of northeast trending faults, colloquially referred to as Boogardie Breaks.

Significant gold mineralisation is also found in porphyritic felsic units of the Boogardie Basin. Mineralisation generally occurs as a stockwork style of sericite-silica-pyrite veining and alteration within felsic porphyry units intruded into ultramafic flow sequences. Gold mineralisation tends to occur along felsic margins adjacent to the ultramafic contact. The Cosmos area consists of this style.


Mining Methods

  • Truck & Shovel / Loader
  • Sub-level stoping
  • Longhole open stoping


Summary:

The Mt Magnet production centre includes the multi pit / underground projects of the Mt Magnet Gold Mine along with high grade underground ore which is hauled from the Vivien and Penny Gold Mines (with commercial production from Penny expected for the 2023 financial year onwards).

Eridanus, Morning Star and most Mt Magnet deposits, Rebecca, Tampia, Symes & Marda are modelled as open pit deposits. Factors include potential pit depths, minimum mineralisation widths and economic cutoffs based on current contract mining equipment and milling facilities. UG deposits, including Galaxy, Hill 60, Shannon, Vivien, Edna May lodes and Penny are modelled with consideration of extraction by conventional sub-level open stoping methods. Edna May, Galaxy and Eridanus models are generated as bulked low grade models for open pit evaluation and bulked underground mining scenarios.

MINING – MT MAGNET GOLD MINE
Operations at the Mt Magnet Gold Mine focussed on one open pit (Eridanus) and two underground mines (Shannon and Hill 60) during the year. A summary of the mine operations for the year is provided below:

Eridanus Open pit
The large Eridanus open pit was the main source of ore feed for the Mt Magnet production centre for the year making up 45% of the mill feed.

Eridanus was the sole open pit mine at Mt Magnet during the year with a total of 1,596kt of ore being mined at a grade of 1.10g/t for contained gold of 56,472 ounces.

........


Crushing and Grinding


Processing

Source: Subscription required

Summary:

- subscription is required.


Production:

CommodityUnits202220212020201920182017
Gold oz  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required135,59766,073
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202220212020201920182017
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required2,338 kt1,208 kt
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required1,962 kt1,742 kt1,574,617 t
Annual milling capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required2 Mt2 Mt1.8 Mt
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Reserves at June 30, 2022:
A maximum A$2,250/oz gold price has been used to estimate Ore Reserves and determine appropriate cut-offs.

CategoryOreTypeTonnage CommodityGradeContained Metal
Proven & Probable Stockpiles 6,300,000 t Gold 0.6 g/t 120,000 oz
Proven & Probable In-Situ (OP) 4,600,000 t Gold 1.5 g/t 230,000 oz
Proven & Probable In-Situ (UG) 3,400,000 t Gold 4.5 g/t 495,000 oz
Proven & Probable Total 14,300,000 t Gold 1.8 g/t 845,000 oz
Total Resource Stockpiles 6,300,000 t Gold 0.6 g/t 120,000 oz
Total Resource In-Situ (OP) 44,330,000 t Gold 1.4 g/t 2,038,000 oz
Total Resource In-Situ (UG) 11,660,000 t Gold 3 g/t 1,312,000 oz
Total Resource Total 62,290,000 t Gold 1.8 g/t 3,470,000 oz

Commodity Production Costs:

CommodityUnits202220212020201920182017
All-in sustaining costs (sold) Gold AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
All-in sustaining costs (AISC) Gold AUD 1,300 / oz   1,250 / oz  
C1 cash costs Gold AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
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Financials:

Units20232022202120202019
Capital expenditures (planned) M AUD  ......  Subscription required
Sustaining costs M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required
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Revenue M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Gross profit M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Pre-tax Income M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
After-tax Income M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
EBIT M AUD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 23, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 23, 2022
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....................... Subscription required ....................... Subscription required Subscription required Nov 23, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 23, 2022
....................... Subscription required ....................... Subscription required Subscription required Nov 23, 2022
Subscription required - Subscription is required.

Staff:

EmployeesContractorsTotal WorkforceYear
Subscription required Subscription required Subscription required 2022
Subscription required 2021
Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
Annual Report 2022
Corporate Presentation 2022
Quarterly Report 2022
Year-end Mineral Reserves 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Annual Report 2018
Corporate Presentation 2018
Annual Report 2017
Corporate Presentation 2017
Other 2017
Subscription required - Subscription is required.

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