West Australian gold miner Ramelius Resources (ASX:RMS) has reaffirmed its production targets for the 2025–26 financial year, delivering a resilient March quarter output despite significant weather-related operational hurdles.
The ASX-listed producer reported a quarterly yield of 38,093 ounces, bringing its year-to-date total to 138,716 ounces.
The performance places the company firmly on track to meet the midpoint of its annual guidance, a feat achieved amidst the turbulent conditions brought on by Cyclone Narelle.
The tropical system’s heavy rainfall hampered activities at the flagship Mt Magnet site; however, the company turned the disruption into a strategic advantage, bolstering high-grade stockpiles that are expected to fuel a strong June quarter.
Ramelius remains in a robust position, reporting an underlying free cash flow of $101.9 million.
Even after executing $110.2 million in share buybacks to reward investors, the miner maintained a formidable liquidity buffer, with cash and gold bullion totalling $606.5 million at the end of March.
Operational highlights were led by the Dalgaranga project, which is currently exceeding internal benchmarks.
Managing director Mark Zeptner noted that the high-grade Never Never deposit delivered its first ore ahead of schedule and with grades surpassing initial expectations.
Addressing broader industry concerns regarding fuel security, Zeptner expressed confidence in the company’s supply chain.