The Ramelius Resources Ltd (ASX: RMS) share price is in focus after the company reported group gold production of 53,466 ounces for the June 2026 quarter and generated underlying free cash flow of $138.3 million.
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What did Ramelius Resources report?
- June quarter group gold production of 53,466 ounces at an all-in sustaining cost (AISC) of $1,973/oz
- Operating cash flow of $191.2 million and underlying free cash flow of $138.3 million
- Full financial year gold production of 192,182 ounces at an AISC of $1,983/oz
- Year-end cash and gold balance of $649.6 million, up from $606.5 million in March
- Share buybacks totalling $140.7 million (56% of announced program)
- Paid a fully franked interim dividend of 3 cents per share
What else do investors need to know?
Ramelius achieved its production guidance for the sixth consecutive year and kept its gold production costs below $2,000 per ounce despite cost pressures. The company also completed a $300 million agreement to sell its Edna May hub, expected to close in the September quarter, with Ramelius set to become a major shareholder in Forrestania Resources upon completion.
Growth investment continued, with $42.1 million spent in the quarter on capital projects, including the Mt Magnet plant upgrade and Dalgaranga site works. Exploration spending remains strong, at $33.9 million for the quarter, focusing on extending mine life and supporting a high-grade strategy across operating sites.
What did Ramelius Resources management say?
Managing Director Mark Zeptner said:
In the June Quarter, the Company delivered 53,466 ounces at a relatively low AISC of A$1,973/oz. For the full Year, we met production Guidance with 192,182 ounces produced at an AISC of A$1,983/oz. The Mt Magnet hub processed its first full Quarter of Never Never mine ore, processing 146kt ore at a grade of 5.37g/t. The Never Never underground mine once at targeted production of 1Mt per annum, with grades in excess of 7g/t, will transform the Mt Magnet hub to Tier 1 status. With our ongoing exploration success, we are confident that there is upside to our current mine plans as we continue the journey to +500,000 ounces by FY30.
What's next for Ramelius Resources?
Ramelius expects to issue full-year FY27 guidance and an outlook to FY30 in the September quarter. The Never Never underground mine will ramp up to full production, and the Mt Magnet plant upgrade aims to lift processing capacity to 4.3Mtpa by FY28.
The company plans ongoing high-grade exploration, with FY27 spend earmarked at $90–110 million, to support further growth. Rebecca-Roe project approvals also continue to advance, paving the way for future development.
Ramelius Resources share price snapshot
Over the past 12 months, Ramelius Resources shares have risen 17%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 3% over the same period.
