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Ramelius FY production hits record

8th July 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Gold miner Ramelius Resources has achieved a full-year production record of 293 033 oz, which is at the upper-end of its upgraded guidance of 285 000 oz to 295 000 oz, and well above the original 250 000 oz to 275 000 oz guidance published a year ago.

Given the strong performance, the ASX-listed company expects its full-year all-in sustaining costs to be at the lower end of the upgraded range of A$1 550/oz to A$1 650/oz.

During the fourth quarter, Ramelius generated underlying free cash flow of A$137.3-million, made a strategic investment of A$87.7-million in Spartan Resources and paid A$10.1-million for the Musgrave acquisitions stamp duty, ending June with cash and gold of A$446.6-million.

Subsequent to quarter end, Ramelius made a second purchase of Spartan shares, amounting to A$92-million, and now holds 17.9% of Spartan.

The company will release further details, along with a 2025 gold production and costs guidance, in the full June quarterly report, set to be released later this month.

Edited by Creamer Media Reporter

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