Ramelius Resources Limited 1H FY2025 Financial and Operational Performance

Ramelius Resources Limited (ASX: RMS) reported a strong financial and operational performance for the half-year ended 31 December 2024, achieving a 19% increase in gold production. This was driven by the high-grade ore combination of Penny and Cue processed at the Mt Magnet hub. The Company reported an All-In Sustaining Cost of AU$1,699/oz, 11% lower than H1 FY24, with further reductions expected in H2 FY25. Operating margins remained attractive, with an EBITDA margin of 61%, while underlying free cash flow reached AU$1,787/oz, positioning Ramelius as a leader among ASX-listed peers.

As of 31 December 2024, the Company held AU$501.7 million in cash and gold after significant investments, including AU$80 million in capital expenditure and AU$165.6 million in Spartan share purchases. Cash generated from operations increased by 177% to AU$327.3 million, supported by higher production, lower costs, and a higher realised gold price of AU$3,541/oz. Investments of AU$81.4 million were directed towards mine development, exploration, and infrastructure, including the Mt Magnet hybrid power station. The Company remains on track to achieve FY25 guidance of 270,000–300,000 ounces at an AISC of 1,500–1,700/oz. Exploration efforts will focus on Penny targets, Cue expansion, and deeper extensions at Galaxy. Ramelius continues its disciplined approach to capital allocation while ensuring a pipeline of value-enhancing development projects.

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