5 Year Growth Pathway to 500Koz including FY26 Guidance

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Stock Ramelius Resources Ltd (RMS.ASX)
Release Time 28 Oct 2025, 8:14 a.m.
Price Sensitive Yes
 5 Year Growth Pathway to 500Koz including FY26 Guidance
Key Points
  • Fully funded 5-year gold production outlook to reach 500koz by FY30
  • FY26 guidance of 185-205koz at ASIC of A$1,700-A$1,900/oz
  • Significant synergies of A$1 billion from Mt Magnet-Dalgaranga integration
Full Summary

Ramelius Resources has announced a clear path to deliver on its vision to become a 500,000oz gold producer by FY30, with a fully funded 5-year outlook. The company's FY26 guidance is set at 185,000 to 205,000 ounces at an ASIC range of A$1,700 to A$1,900/oz, with the Mt Magnet hub contributing the full production. Ramelius has also identified around A$1 billion in real synergies from the integration of the Mt Magnet and Dalgaranga operations, which is significant considering the Spartan acquisition valued at A$2.5 billion. The company plans to upgrade the Mt Magnet plant from 2Mtpa to 5Mtpa in FY28, while processing high-grade ore from the Never Never deposit at Dalgaranga. Construction of the Rebecca-Roe processing plant is scheduled to commence in early 2028, with first production planned in FY29. Ramelius' strong financial position, with A$827.7M in cash and bullion and an undrawn A$175M revolving credit facility as of 30 September 2025, supports the company's growth plans. The free cash flow generation is expected to increase significantly from FY27 onwards, reaching an annual average of more than A$1 billion (at A$4,500/oz) from FY30 to at least FY35.

Guidance

FY26 gold production guidance of 185,000 to 205,000 ounces at an ASIC range of A$1,700 to A$1,900/oz.

Outlook

Ramelius is targeting to become a 500,000oz gold producer by FY30, with the 5-year growth pathway fully funded. The company expects free cash flow generation to increase significantly from FY27 onwards, reaching an annual average of more than A$1 billion (at A$4,500/oz) from FY30 to at least FY35.