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    RMS   AU000000RMS4

RAMELIUS RESOURCES LIMITED

(RMS)
  Report
Delayed Australian Stock Exchange  -  02:11 2022-09-26 am EDT
0.6150 AUD   -6.82%
09/15RAMELIUS RESOURCES LIMITED : Ex-dividend day for final dividend
FA
09/14Ramelius Resources Limited Provides Development Projects and Exploration Update
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09/12Ramelius Resources Limited Announces New Estimates of Mineral Resources and Ore Reserves as At 30 June 2022
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Ramelius Resources : June 2022 Quarterly Report, FY23 Guidance, FY22 and Rebecca

07/27/2022 | 06:28pm EDT

only

use

28 July 2022

personal

ISSUED CAPITAL

Ordinary Shares: 867M

DIRECTORS

NON-EXECUTIVECHAIR:

Bob Vassie

MANAGING DIRECTOR:

Mark Zeptner

NON-EXECUTIVEDIRECTORS:

David Southam

Natalia Streltsova

Fiona Murdoch

COMPANY SECRETARY:

Richard Jones

www. ameliusresources.com.au

For

amelius@rameliusresources.com.au

RAMELIUS RESOURCES LIMITED

Registered Office

Level 1, 130 Royal Street

East Perth WA 6004

Tel +61 8 9202 1127

PO Box 6070

East Perth, WA 6892

28 July 2022

June 2022 Quarterly Activities Report

HIGHLIGHTS

  • FY22 group production of 258,625 ounces (Guidance 255,000 - 260,000oz) at an AISC of A$1,523/oz (Guidance A$1,475 - 1,525/oz)
  • Quarterly group gold production of 67,418 ounces at an AISC of A$1,564/oz, representing the highest production Quarter for the financial year despite increased COVID-19related impacts following WA border re-openingin March (refer Figure 2)
  • Cash & gold of A$172.9M (Mar 2022 Qtr: A$164.7M) with an underlying cash contribution from operations of A$11.9M after A$25.2M in non-sustaining capital and exploration
  • Improved road train driver availability has resulted in an increase in ore haulage tonnes to Edna May (Q4: 122,000t per month vs Q3: 100,000t per month)
  • Exploration and resource definition drilling highlights include:
  1. Bartus East (Mt Magnet)
    • 8m at 4.84g/t Au from 187m (GXRC0900)
    • 14m at 2.94g/t Au from 226m including 8m at 6.49g/t Au from 230m
    • 9m at 3.84g/t Au from 247m
  1. Saturn (Mt Magnet)
    • 22.6m at 2.31g/t Au from 556m (GXDD0136), including 6m at 6.82g/t Au from 572.6m
    • 72.9m at 1.84g/t Au from 712.1m incl. 25m at 3.83g/t Au from 718m o Rebecca (Rebecca Project)
    • 13m at 15.6g/t Au from 55m (RCLR0946)
    • 33m at 1.94g/t Au from 45m (RCLR0952)
    • 7m at 7.76g/t Au from 71m (RCLR0966)
    1. Duchess (Rebecca Project)
      • 17m at 1.68g/t Au from 32m (RCLR2002)
      • 6m at 6.88g/t Au from 219m (RCLR2027)
  • Updated Ramelius Mineral Resource at Rebecca, based on first 9,070m of infill drilling:
    1. 31Mt @ 1.2g/t for 1.2Moz (up 9% on previous Apollo Consolidated Resource)
  1. Original resource upgraded with 22% increase in Indicated Resources and greater proportion of exploration drilling planned in FY23

PRODUCTION GUIDANCE - FULL YEAR FY23

  • Group gold production Guidance for FY23 is expected to be between 240,000 - 280,000 ounces at an AISC of A$1,750 - 1,950/oz:
    o Mt Magnet (inc. Vivien & Penny) - 150,000 ounces o Edna May (incl. Marda & Tampia) - 110,000 ounces
  • Capital & project development expenditure of approximately A$58M
  1. Penny A$24M (underground mine development)
  1. Mt Magnet A$22M (Galaxy underground mine development & infrastructure) o Marda A$12M (Die Hardy open pit & access road)

For personal use only

SAFETY, ENVIRONMENT, HERITAGE & COMMUNITY

Safety Statistics

There was 1 Lost Time Injury and 2 Restricted Work Injuries during the Quarter. The Total Recordable Injury Frequency Rate (TRIFR) was 11.86 as at the end of June 2022 (refer Figure 1), representing a 24% reduction over the year.

Figure 1: Ramelius Group Injury Statistics & TRIFR

COVID-19

In terms of managing the impacts of COVID-19, Ramelius maintains certain procedures, related to physical distancing and pre-commute testing and screening. During the Quarter the Company recorded, including both on and off-site, the following:

  • 289 positive COVID-19 cases; and
  • 88 close contacts requiring isolation.

This has had an impact on site productivity due to the 7-day isolation requirement resulting in increased absenteeism. No positive cases have resulted in hospitalisation to date. The Company's contact tracing system, called Contact Harald, is still in use at Mt Magnet and Edna May. The system allows for faster and more accurate assessment of close contacts to any positive cases on site.

Figure 2: COVID-19 cases and close contacts

Environment, Heritage & Community

There were no significant environmental, heritage or community related incidents reported during the Quarter.

2

For personal use only

FY22 PRODUCTION & FINANCIAL SUMMARIES

Production for June 2022 Quarter

Gold production for the June 2022 Quarter was the highest production Quarter for the 2022 financial year at 67,418 ounces at an AISC of A$1,564/oz (refer Figure 4).

Ore haulage from Tampia and Marda to the Edna May plant increased 20% in the June 2022 Quarter (from the March 2022 Quarter). This is a significant achievement in the current environment, however, the ongoing impact of COVID-19 meant haulage forecasts for the Quarter were not met as shown in Figure 3 below.

Figure 3: Haulage Tonnes to Edna May

Figure 4: FY22 Group gold production by Quarter

Production for FY22

Group gold production for FY22 was 258,625 ounces at an AISC of A$1,523/oz, compared to most recent Guidance of 255-260,000 ounces at an AISC between A$1,475 - $1,525/oz.

3

For personal use only

Table 1: June 2022 Quarter production & financial summary

Operations

Unit

Mt Magnet 1

Edna May 1

OP ore mined (high grade only)

t

526,576

423,106

OP grade mined

g/t

1.02

2.15

OP contained gold (high grade only)

Oz

17,311

29,214

UG ore mined (high grade only)

t

210,097

46,070

UG grade mined

g/t

3.48

3.56

UG contained gold (high grade only)

Oz

23,482

5,277

Total ore mined

t

736,673

469,176

Total tonnes processed

t

451,955

606,883

Grade

g/t

2.30

2.04

Contained gold

Oz

33,464

39,775

Recovery

%

95.2%

93.9%

Gold produced

Oz

31,871

37,339

Gold poured

Oz

31,413

36,005

Gold sales

Oz

32,162

35,470

Achieved gold price

A$/Oz

$2,508

$2,508

Cost summary

Mining - operating

$M

41.6

32.2

Processing

$M

11.2

14.0

Administration

$M

3.6

3.9

Stockpile movements

$M

(19.6)

(2.9)

C1 cash cost

$M

36.8

47.2

C1 cash cost

A$/prod oz

$1,155

$1,264

Mining costs - development

$M

-

8.1

Royalties

$M

3.5

2.6

Movement in finished goods

$M

0.8

(2.2)

Sustaining capital

$M

1.0

3.4

Corporate overheads

$M

2.1

2.5

AISC cost

$M

44.2

61.6

AISC per ounce

A$/sold oz

$1,374

$1,737

1 The Mt Magnet operation reported above includes Vivien and Penny whilst the Edna May operation includes Marda and Tampia.

Group

949,682

1.52

46,525

256,167

3.49

28,759

1,205,849

1,058,838

2.15

73,239

94.5%

69,210

67,418

67,632 $2,508

73.8

25.2

7.5

(22.5)

84.0

$1,214 8.1 6.1 (1.4) 4.4 4.6

105.8

$1,564

4

For personal use only

Table 2: FY22 production & financial summary

Operations

Unit

Mt Magnet 1

Edna May 1

OP ore mined (high grade only)

t

1,614,735

1,981,420

OP grade mined

g/t

1.13

2.10

OP contained gold (high grade only)

Oz

58,438

133,877

UG ore mined (high grade only)

t

734,294

211,079

UG grade mined

g/t

3.98

3.74

UG contained gold (high grade only)

Oz

94,072

25,370

Total ore mined

t

2,349,029

2,192,499

Total tonnes processed

t

1,732,153

2,507,327

Grade

g/t

2.37

1.76

Contained gold

Oz

131,830

142,166

Recovery

%

96.2%

93.6%

Gold produced

Oz

126,860

133,089

Gold poured

Oz

126,511

132,114

Gold sales

Oz

123,112

128,243

Achieved gold price

A$/Oz

$2,399

$2,399

Cost summary

Mining - operating

$M

138.9

117.9

Processing

$M

44.4

54.7

Administration

$M

16.0

16.1

Stockpile movements

$M

(54.3)

(28.5)

C1 cash cost

$M

145.0

160.2

C1 cash cost

A$/prod oz

$1,143

$1,204

Mining costs - development

$M

13.7

22.3

Royalties

$M

12.9

10.4

Movement in finished goods

$M

(5.5)

(7.8)

Sustaining capital

$M

5.7

8.4

Corporate overheads

$M

8.6

8.8

AISC cost

$M

180.4

202.3

AISC per ounce

A$/sold oz

$1,465

$1,578

1 The Mt Magnet operation reported above includes Vivien and Penny whilst the Edna May operation includes Marda and Tampia.

Group

3,596,155

1.66

192,315

945,373

3.93

119,442

4,541,528

4,239,480

2.01

273,996

94.9%

259,949

258,625

251,355 $2,399

256.8

99.1

32.1

(82.8)

305.2

$1,174 36.0 23.3 (13.3) 14.1 17.4 382.7

$1,523

5

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Disclaimer

Ramelius Resources Limited published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 22:27:03 UTC.


© Publicnow 2022
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Sales 2022 603 M 395 M 395 M
Net income 2022 99,1 M 64,9 M 64,9 M
Net cash 2022 149 M 97,5 M 97,5 M
P/E ratio 2022 6,29x
Yield 2022 0,76%
Capitalization 574 M 376 M 376 M
EV / Sales 2022 0,70x
EV / Sales 2023 0,56x
Nbr of Employees 225
Free-Float 96,1%
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Number of Analysts 7
Last Close Price 0,66 AUD
Average target price 1,27 AUD
Spread / Average Target 92,6%
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Managers and Directors
Mark William Zeptner CEO, Managing Director & Director
Timothy Peter Manners Chief Financial Officer
Robert Scott Vassie Non-Executive Chairman
Duncan James Coutts Chief Operating Officer
David Clifford Southam Independent Non-Executive Director
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