Shares in Ramelius Resources Limited (ASX:RMS) rose to yesterday’s best performer after releasing an exploration update.
The gold miner has identified a new potentially blind high grade ore shoot between two of its open pits at its wholly owned Mt Magnet Gold Project in Western Australia.
Ramelius has also reported high grade gold mineralisation south of its Galaxy open pit.
Shares in Ramelius lost almost a quarter of their value last Tuesday after revealing its flagship Wattle Dam project had produced extremely erratic grades.
Shares in Ramelius Resources rose 10.59 per cent yesterday, closing at $0.47.
Ramelius Resources reported a net profit of $16 million in the first half of the 2012 financial year.
