MINING REFINING

Ramelius Achieves Record Gold Production

Tue July 29 2025

Ramelius Resources (ASX:RMS) has reported record gold production and free cash flow at the end of the June quarter, supported by strong operational performance and the successful integration of Spartan Resources. Ramelius is a gold mining company focused on exploration, development, and production in Australia. The company aims to create value through efficient operations and strategic acquisitions.

The gold miner produced 301,664 ounces at an all-in sustaining cost (AISC) of $US1551 per ounce. These figures are at the top and bottom end of its upgraded guidance, respectively. In the June quarter, output reached 73,454 ounces at an AISC of $US1339 per ounce, the lowest quarterly cost for the fiscal year.

Free cash flow reached a record $694.9 million, driven by strong contributions from the Cue project, which generated $288 million and paid back its acquisition and development costs in under nine months. The group has reduced its hedge book to 56,000 ounces at an average of $US3283 per ounce, maintaining around 76 per cent exposure to the spot gold price in fiscal year 2026, in line with its 17-year Mt Magnet mine plan. The Mt Magnet plan is currently under review following the acquisition of Spartan.

Ramelius managing director Mark Zeptner said the results capped an exceptional year for the company. The company is now focused on scaling up to half a million ounces a year by FY30. “Production exceeded the upper end, and costs were delivered at the bottom of our upgraded guidance. By any measure, this was an exceptional result,” Mr. Zeptner said. He also noted the allocation of up to $80 million toward exploration across the Mt Magnet portfolio, aiming to discover more high-grade gold ounces.

Source: https://www.sharecafe.com.au/