Key points
- Quarterly gold production of 85,311oz
- Cash and gold balance of A$501.7M
- Record underlying free cash flow of A$174.5M
Full summary
Ramelius Resources Ltd has reported record quarterly gold production of 85,311oz for the December 2024 quarter, up from 62,444oz in the previous quarter. This was driven by strong performance at the company's Mt Magnet hub, which produced 67,050oz, and the Edna May hub, which produced 18,261oz. The company's cash and gold balance increased to A$501.7M, up from A$438.6M in the previous quarter. Ramelius also reported record underlying free cash flow of A$174.5M, before a A$68.0M share purchase in Spartan and a A$43.4M dividend payment. The company noted that further details on FY25 guidance will be provided in the full December 2024 Quarterly Report. Ongoing studies at the Eridanus and Mt Magnet operations are expected to be incorporated into an updated Mt Magnet Mine Plan to be released in the March 2025 quarter. This updated plan will be combined with the recent Rebecca-Roe Gold Project pre-feasibility study results to provide a consolidated group production profile.
Guidance
No high-importance, price-sensitive forward-looking financial metrics provided.
Outlook
The company noted that the addition of high-grade Cue ore into the Mt Magnet mill has exceeded expectations, and the company looks forward to production from both Penny and Cue in combination for a full six months in the second half. Further work is required to complete the studies on Eridanus and the Mt Magnet mill expansion, with the outcomes to be incorporated into an updated Mt Magnet Mine Plan.