RAMELIUS RESOURCES LIMITED
Productive Quarter with New Discoveries
RMS - Quarterly Activities Report and Share Price Commentary - Mr Joe Houldsworth, MD
Thu, 31 Jul 2008 10:00AM
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Mr Joe Holdsworth
Thu, 31 Jul 2008
10:00AM Australia/NSW
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RAMELIUS RESOURCES LIMITED (RMS)
ASX code: RMS
Website: http://www.rameliusresources.com.au
Industry: Materials
Principal Activities:
Gold exploration.
Address:
, , 140 Greenhill Road,
UNLEY
SA
Phone: 08 8373 6473
Fax: 08 8373 5917
Executives & Directors
Mr Robert Michael Kennedy , Non Exec. Chairman
Mr Joseph Fred Houldsworth , Managing Director, CEO
Mr Ian James Gordon , Executive Director
Mr Kevin James Lines , Non Exec. Director
Mr Reginald George Nelson , Non Exec. Director
Mr Domenico Antonio Francese , CFO
Mr Domenico Antonio Francese , Company Secretary
Company Podcasts
Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
RAMELIUS RESOURCES LIMITED (RMS) Events
Australia/NSW
RAMELIUS RESOURCES LIMITED (RMS)
| Company Update | Wed, 24 Jun 2009 |
| Senior Geology Appointments | Tue, 9 Jun 2009 |
| COO appointed to lead role as founding MD retires | Mon, 1 Jun 2009 |
| Notification of Expiry of RMSOB Options | Thu, 28 May 2009 |
| Change in Directors Interests - Appendix 3Y | Thu, 21 May 2009 |
| Appendix 3B - SPP Shares | Tue, 19 May 2009 |
| Successful SPP Strengthens Wattle Dam Development, Amended | Tue, 19 May 2009 |
| Successful SPP Strengthens Wattle Dam Development | Tue, 19 May 2009 |
| Wattle Dam Underground Development Commenced | Thu, 7 May 2009 |
| Appendix 3B - Exercised Options | Wed, 29 Apr 2009 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH JOE HOULDSWORTH, MANAGING DIRECTOR OF RAMELIUS RESOURCES LIMITED (RMS)
“Productive Quarter with New Discoveries”
http://www.brr.com.au/event/48816
THURSDAY, JULY 31, 2008, 10:00 AM
BRR Welcome to Boardroom Radio. Joining me today is the Managing Director of Ramelius Resources, Mr. Joe Houldsworth. Joe, thanks for joining us on
10 Boardroom Radio today.
RMS My pleasure, James.
BRR Ramelius has released the quarterly activities report and we are going to talk to you about some of the significant results and activities from Ramelius this
15 quarter. I might start by asking you to run us through the activities and the developments at Wattle Dam.
RMS We are currently involved in a cutback operation to the existing pit as the first phase of our proposed underground development and it is proceeding very well. We are very pleased. We are on track. We are probably halfway through
20 the cutback exercise and we expect it to be completed sometime around November, at which time we will be developing a portal access and a decline to access the high-grade underground. As I say, we are right on track, and of course, from the underground development, we expect to recover conservatively about 67,000 ounces over a 12-month period.
25
BRR Earlier in the quarter, Joe, you did release the results from an RC drilling program at Golden Orb, obviously a very pleasing result and also quite good proximity to Wattle Dam. Could you just talk us through what were some of details here?
30 RMS It has been an interesting quarter, quite exciting from our point of view. We have eventually had four visible gold intercepts in the diamond drilling at the Wattle Dam dips, and results, of course, have been published for three of those. There is one outstanding Hole 56. I think there is actually a photo in the quarterly of that. As I say, it is quite an outstanding visible gold intercept
35 in the diamond core. More importantly, of course, whilst we do not have the analytical results for that, that intercept is located 30 metres below the current resource. So we are still on track for growing this resource and extending the resource reserves down plunge. The other exciting aspects are to the south of Wattle Dam, at Golden Orb, which is only 600 metres south of the Wattle
40 Dam gold mine. We have obviously had some quite exciting results that were the subject incidentally of a previous Boardroom Radio presentation just recently. So anybody that would like more details on that could certainly access that previous presentation.
45 BRR Just looking at the other results below the significant auger gold anomaly which you have identified at West Wattle Dam. Could you just give a bit more data about this? There are some fairly interesting photos showing the gold contained in the quarterly. Could you just talk us through the details of this?
RMS Certainly, James. As we have just discussed, we have Wattle Dam gold mine, and now at 600 metres south of Wattle Dam, we have the Golden Orb prospect that is looking very, very similar to the early Wattle Dam intercepts. Now, of course, we have discovered a significant auger gold anomaly 600
5 metres to the west which we have obviously called West Wattle Dam. It is rather amazing that we think that we have covered the ground pretty extensively in the way of works programmes, but here we are, 600 metres to the west, and now our most basic and recent work has come up with quite a significant auger gold anomaly. More excitingly, we have discovered what we
10 have described as primary nuggets in quartz veining near the surface. As you say, yes, there are photographs in the quarterly report of these gold specimens. Nuggets is a funny term, but actually, primary gold-quartz specimens. It is amazing to think that we have these stuffs sticking out of the ground 600 metres to the west. This area of Spargoville never ceases to
15 amaze us. It really is remarkable. Not everybody is blessed with a project area where we have so much high-grade visible gold.
BRR Now, Joe, it has been a very productive quarter, this one just passed. For shareholders and listeners, what should they look to from Ramelius as the
20 focus for the quarter ahead?
RMS As I said, the cutback at Wattle Dam is progressing very well and we have just commenced stockpiling of low-grade ore. By low grade, of course, I am making a comparison to anticipated high grade that we will recover from the underground. Our low grade is essentially from the wester zone of the
25 cutback in the pit and that is roundabout the 5-gram grade. We will be stockpiling this half actually, just commenced stockpiling this low-grade ore, so obviously we will be milling relatively soon. Obviously, we expect to access the high-grade ore in the December quarter. That is on the Wattle Dam mining scene. Obviously, work continues to extend the resource down plunge
30 to the north and we are continuous on the other exciting prospects. I expect within the next week or two to be carrying out diamond drilling programs at Golden Orb, 600 metres to the south of Wattle Dam, and very shortly, within just a matter of weeks, I expect initial drilling program to commence at West Wattle Dam. We have also got further drilling programs at Eagles Nest, which
35 is about 5 to 7 kilometres south, and we are still pursuing our nickel sulphide exploration at the 1A North prospect and (inaudible) (0:06:18) north. So we are pretty busy.
BRR Joe, just finally, could you give shareholders and potential investors some
40 insight into your opinion on the performance of the Ramelius share price which has, like other stocks in the market, been sold off quite heavily over the past few months.
RMS That is the $64,000 question. It is a difficult one. The market is in the pits and that is the end of it. It is unfortunate. There is not much support in the gold
45 mining industry generally, but time will tell. The fundamentals, for example, of Ramelius Resources are still very good. In fact, I refuse to be driven by the share prices and the stock market generally. We are just proceeding with our business. We have a very good business plan. It is interesting to see what will develop in the very short term in respect to share prices and other players in the industry. I can only suggest that if it is a case of last man standing, I would like to think that Ramelius is going to be one of those. The industry is really suffering at the moment. If I may offer an opinion here, a lot of gold miners and would-be good miners still appear to me to be proceeding with an
5 antiquated perspective. Marginal low grade does not work, will not work ever again in my opinion. Costs have been accelerating faster than the price of gold has been appreciating. I think it is catch-up time now. I think, generally, the investors are beginning to realize this, probably before some of the players out there in the market. High grade is the only thing that is going to
10 work, I think. From that point of view, Ramelius is very well positioned. We have a low-risk, low-cost, relatively small operation. We have very low capital cost, operating cost, big margins, and as I say, I think that is the only thing that is going to work. I think the market will shortly start to appreciate this as various players fall by the wayside and it does not sound very good, I
15 suppose, even coming from me, but there are going to be a lot more falling by the wayside in the very short term. That is a fact of life. Yes, the share price, there is not much we can do about it at the moment. We just have to let things settle.
20 BRR Well, Joe, certainly appreciate you taking the time to give us an update on operations and keep your shareholders and potential investors informed of operations at Ramelius. We look forward to following the results from Golden Orb, from Wattle Dam, Wattle Dam West as well as the quarter progresses.
RMS Thank you, James.
25
BRR Remember, if you have any questions about this broadcast or any other broadcast on Boardroom Radio, send through your e-mails to brr@brr.com.au.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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