S&P/ASX 200 Index (ASX: XJO) gold stock Ramelius Resources Ltd (ASX: RMS) is charging higher today.
Ramelius shares closed yesterday trading for $2.30. In morning trade on Thursday, shares are swapping hands for $2.41 apiece, up 4.8%.
For some context, the ASX 200 is down 1.9% at this same time.
The Ramelius share price should be getting some added support today amid another uptick in the gold price. Investors are seeking out the haven asset amid the uncertainty unleashed by Trump's tariff reveal. The yellow metal topped US$3,146 per ounce this morning, marking another new record high.
Ramelius also just released a promising update for the March quarter.
Here's what investors are mulling over.
Image source: Getty Images
ASX 200 gold stock surges alongside cash balance
The Ramelius share price is flying higher after the ASX 200 gold stock reported quarterly gold production of 80,455 ounces. That's down 5.7% from the 85,311 ounces produced in the December quarter.
Ramelius produced 67,464 ounces from its Mt Magnet hub and 12,991 ounces from the Edna May hub over the three months.
The miner's cash and gold balance increased by 31% over the quarter to reach $657 million.
And Ramelius achieved record underlying free cash flow of $223 million, before an income tax instalment of $68 million.
The March quarter also saw the ASX 200 gold stock declare its maiden interim dividend of 3 cents per share, fully franked. Eligible investors can expect that passive income payout on 17 April.
And in a big development over the quarter, Ramelius and Spartan Resources Ltd (ASX: SPR) announced that they entered into a binding Transaction Implementation Deed.
If it goes through, Ramelius will acquire all the Spartan shares it doesn't already own for 25 cents in cash and 0.6957 new Ramelius shares for each Spartan share.
What did management say?
Commenting on the quarterly results that are lifting the ASX 200 gold stock today, Ramelius managing director Mark Zeptner said, "The operations team continues to maximise cash flows from our existing operations in this elevated gold price environment."
Addressing the pending merger with Spartan, Zeptner added:
Ramelius looks forward to integrating our business with Spartan during the September 2025 quarter, following completion, and the subsequent release of an Integrated Study of Mt Magnet / Dalgaranga.
Activities associated with the transaction are proceeding to plan, with the independent expert appointed and well underway. Feedback from meetings since the transaction was announced, regarding the potential of the combined entity, has been overwhelmingly positive.
The ASX 200 gold stock will provide FY 2025 guidance and additional details in its full March quarterly report. That's due out later in April.
