Ramelius Resources has reported gold production of 48,839 ounces of gold at an all-in sustaining cost (AISC) of AU$2,656 per ounce for the September quarter, maintaining a strong balance sheet while advancing its key growth projects across Western Australia.
Despite operational haulage delays at the Penny mine caused by severe weather interruptions in September, the company remains firmly on track to meet its full-year fiscal 2027 production guidance of 205,000 to 225,000 ounces at an AISC of AU$2,150 to AU$2,350 per ounce.
The September haulage disruptions left a stockpile of 29,000 tonnes of high-grade ore containing 4,202 ounces of gold at Penny, which is scheduled for processing during the December quarter.
Financially, Ramelius strengthened its cash and gold position to AU$768 million, up from AU$650 million in the June quarter.
The company generated AU$186 million in operating cash flow and AU$62 million in underlying free cash flow. This was achieved while allocating AU$53 million to growth capital, AU$52 million to sustaining capital, and AU$23 million to exploration activities.
“We are systematically derisking our business plan to become a 600,000 ounce producer by FY30,” said Managing Director Mark Zeptner.
Key corporate transactions during the period included completing the sale of the Edna May hub to Forrestania Resources for AU$300 million, comprising AU$210 million in cash and AU$90 million in Forrestania shares, and returning value to shareholders through AU$15 million in share buybacks and a fully franked final dividend of 3 cents per share paid on 13 October.
Operationally, the miner awarded an EPC contract to Primero for Stage 2 of its Mt Magnet processing plant upgrade, aimed at constructing a new 3Mtpa circuit.
Meanwhile, the Never Never underground mine at Dalgaranga continues to ramp up, targeting 1Mtpa of high-grade ore delivery by July 2027.
