Ramelius Resources Limited

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Full Year Report 30 June 2017

Incorporating Appendix 4E

The Preliminary Final Report under ASX Listing Rule 4.3A is based on the financial statements which have been audited Contents

  • Appendix 4E

  • Annual Financial Report including Directors Report

Results for announcement to the market

Preliminary Final Report for the year ended 30 June 2017 (Rule 4.3A)

30 June Movement Movement 2016 1 $ %

Previous corresponding period ‐ 30 June 2016

Consolidated 30 June 2017 1

Revenue from ordinary activities ($000's)

197,358

173,744

23,614

13.59

Net Profit before tax ($000's)

25,060

25,343

(283)

(1.12)

Net profit after tax ($000's)

17,675

27,540

(9,865)

(35.82)

Net profit after tax attributable to members ($000's)

17,675

27,540

(9,865)

(35.82)

Net asset backing per ordinary security ($)

0.32

0.27

0.05

18.52

1 Results reflect the treatment of Ramelius Milling Services Pty Ltd as a discontinued operation (refer Note 32 of the annual financial report).

There were no dividends paid in the year ended 30 June 2017.

The directors do not propose to pay any dividend for the year ended 30 June 2017.

Operational highlights

  • Total group fine gold production increased by 13% to 125,488 ounces in the financial year.

  • Mining activity concluded at Kathleen Valley in the September 2016 quarter. Rehabilitation was carried out concurrently with mining activities and therefore final rehabilitation work, other than on going monitoring, has been completed.

  • Mining of the high grade Vivien underground gold mine continued throughout the year with ore continuing to be hauled to the Checkers processing facility and being successfully blended with both the Kathleen Valley and Mt Magnet ore.

  • At Mt Magnet the operations continued at the Titan, Perseverance (Percy), and Blackmans open pit mines. In addition to this, development commenced at the Water Tank Hill underground project with ore development commencing in June 2017.

  • A new Life of Mine ("LoM") plan was generated on the back of several Ore Reserve upgrades during the year. The new LoM plan extends the mine life to approximately 4 years before any underground extensions.

    Financial and corporate highlights

  • Cash and gold on hand at 30 June 2017 of $89.9 million incorporating cash at bank of $78.6 million and gold on hand of $11.3 million (representing 7,007 ounces at A$1,616 per ounce).

  • In June 2017, the $10 million financing facility with the Commonwealth Bank of Australia (CBA) expired undrawn.

12 months to 12 months to Movement 30 June 2017 1 30 June 2016 1 $

Performance

Total sales revenue ($000's)

197,358

173,744

23,614

Cost of sales ($000's)

(168,615)

(140,839)

(27,776)

Gross profit ($000's)

28,743

32,905

(4,162)

Net profit after tax (NPAT) ($000's)

17,675

27,540

(9,865)

Basic EPS (cps)

3.39

5.82

(2.43)

Diluted EPS (cps)

3.36

5.81

(2.45)

1 Results reflect the treatment of Ramelius Milling Services Pty Ltd as a discontinued operation (refer Note 32 of the annual financial report).

Cash flows

Cash flow from operating activities ($000's) 83,430 65,51617,914

Financial position As at 30 June 2017 As at 30 June 2016 Movement %

Net assets ($000's) 169,802 127,588 33.09

Cash balance ($000's) 78,567 44,27277.46

The audited annual financial report follows.

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Annual Financial Report for the Year Ended 30 June 2017

Ramelius Resources Limited published this content on 25 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2017 01:22:01 UTC.

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