The Ramelius Resources Ltd (ASX: RMS) share price is in focus after the gold miner upgraded its FY30 production outlook and released new FY27 guidance, flagging production growth of up to 610,000 ounces by 2030 and an 11% lift on its October 2025 plan.
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What did Ramelius Resources report?
- FY30 gold production target upgraded to 560,000–610,000 ounces at an AISC of A$2,100–2,400/oz (11% increase)
- FY27 gold production guidance: 205,000–225,000 ounces at an AISC of A$2,150–2,350/oz
- FY27 growth capital expenditure: A$480–570 million; Mt Magnet plant expansion costs increased (now A$280 million)
- Sale of Edna May hub delivered A$210 million in cash and A$90 million in Forrestania Resource Limited shares
- Current cash, gold and investments exceed A$1 billion
What else do investors need to know?
Ramelius' production targets are underpinned by expanded operations at Mt Magnet, discoveries at Galaxy and Cue, and development of Rebecca-Roe. Enhanced capital outlays reflect capacity upgrades, infrastructure to future-proof operations, and inflationary impacts.
The company's outlook assumes a higher gold price (A$5,500/oz) and cost base reflecting sector-wide pressures, but management expects to maintain one of the lowest cost positions among ASX gold miners. The recently appointed EPC contractor, Primero, will deliver a new 3Mtpa processing circuit at Mt Magnet, facilitating future production growth.
What did Ramelius Resources management say?
Managing Director Mark Zeptner said:
We are continuing to systematically unlock the full potential of our Top Tier Mt Magnet hub while de-risking Rebecca-Roe through permitting progress and advanced design work. We expect to maintain our sector-leading AISC position, despite the cost pressures being felt by all gold miners, while delivering a 205% increase in production by FY30… Our targeted exploration strategy, combined with operational and technical expertise, has driven an 11 percent uplift in our FY30 production outlook to more than 600,000 ounces, reaffirming our position as Australia's standout gold growth story, underpinned by a long term resilient low-cost advantage… These commitments are consistent with our delivery philosophy. FY26 marks our sixth consecutive year of meeting market guidance – demonstrating the discipline and reliability of our operating model. We remain focused on organic growth through investing in exploration and optimisation of existing infrastructure, an approach that we believe will result in superior returns for our shareholders.
What's next for Ramelius Resources?
Ramelius is pushing ahead with growth plans at Mt Magnet, aiming for a steady-state run rate of 4.3Mtpa in March 2028 and a Life-of-Mine to 2043. The Rebecca-Roe project is advancing through final permitting, with early works capital brought forward to FY27.
The business remains focused on organic growth and ramping up production with a pipeline of resource definition and mine expansion projects, while maintaining a capital-efficient approach and strong balance sheet.
Ramelius Resources share price snapshot
Over the past 12 months, Ramelius Resources shares have declined 3%, trailing the S&P/ASX 200 Index (ASX: XJO), which has fallen 1% over the same period.
