Ramelius Resources cash reserves grow to $768M

Ramelius Resources (ASX:RMS) reported quarterly gold production of 48,839 ounces while expanding its total cash and gold reserves to $768 million.

The quarterly production figure reflects weather interruptions that impacted ore haulage from the Penny site, compared to higher processing volumes in prior periods.

Managing Director Mark Zeptner said, “In the September quarter, the business produced 48,839 ounces of gold at an AISC of $2,656/oz and is on track for FY27 production and cost guidance. We are systematically derisking our business plan to become a 600,000 ounce producer by FY30.”

The group spent $22.7 million on exploration during the period and awarded an engineering contract to Primero to upgrade its Mt Magnet processing plant.

The company stated that it remains on track to maintain its full-year guidance of 205,000 to 225,000 ounces at an all-in sustaining cost between $2,150 and $2,350 per ounce.

Following the announcement, the Ramelius Resources share price was up to $3.34.

Ramelius Resources is an Australian gold mining company focused on exploration, development, and production operations across Western Australia.