• First truckload of Never Never ore delivered to Mt Magnet processing plant
• Higher-grade Never Never ore to be introduced in the June 2026 Quarter when stoping commences
• Underlying EBITDA up 13% to A$347.7 million, a record H1 result

Ramelius Resources Ltd reported its H1 FY26 financial results, with gold production down 32% to 101Koz due to lower grades, but realised gold price up 36% to A$4,822/oz. Underlying EBITDA increased 13% to a record A$347.7 million, and the company completed the acquisition of Spartan, adding new growth projects. Key highlights include the first truckload of ore from the Dalgaranga Never Never mine delivered to the Mt Magnet processing plant, with higher-grade ore to be introduced in the June 2026 Quarter when stoping commences. The Mt Magnet operations delivered excellent earnings, with EBITDA of A$369.7 million (76% margin). The company remains well-funded, with A$694.3 million in cash and gold, and has closed out its FY27 hedge book. Ramelius outlined its disciplined approach to capital allocation, focusing on maintaining a strong balance sheet, re-investing in the business, and providing shareholder returns through dividends and a new A$250 million share buyback program.

Ramelius expects to see higher gold production in Q4 FY26 with the introduction of Dalgaranga high-grade ore. The company's cash balance at 30 June 2026 is forecast at A$700 million with no debt, prior to any dividends or share buybacks.

Ramelius has an aggressive exploration approach and an organically focused growth strategy, with key projects including the development of the Never Never underground at Dalgaranga, Mt Magnet plant upgrades, and the Rebecca-Roe and Eridanus Stage 3 projects. The company is committed to maintaining a strong balance sheet and returning capital to shareholders through dividends and share buybacks.