Ramelius Resources has completed the sale of its Edna May operation for A$300 million, including A$210 million received in cash on 4 September 2026. The divestment marks a strategic shift toward the company’s higher-grade, longer-life assets. The cash proceeds have contributed to a combined cash and gold balance of A$768 million as of 30 September 2026, up from A$649.6 million at the end of the prior quarter, providing a substantial foundation for capital deployment.
September quarter gold production of 48,839 ounces tracks the company toward its FY27 production guidance range of 205,000 to 225,000 ounces. Wet weather in September created a temporary disruption to ore haulage from the high-grade Penny mine, resulting in a 27,680 tonne ore stockpile at 4.78 grams per tonne at the mine. Management advised the disruption represents only a minor timing impact with haulage operations now resumed, and does not affect full-year guidance achievement.
Mt Magnet mill expansion is advancing with Primero appointed as engineering, procurement and construction contractor for the new 3 million tonne per annum Circuit 2. Circuit 1 improvements, including a new crusher and gravity tower, are currently being installed during a planned shutdown. The company anticipates the fully funded expansion will support production exceeding 600,000 ounces annually by FY30, with existing resources and reserves supporting similar production levels through the late 2030s.
Exploration success is enabling ore grade improvement through displacement of lower-grade material in FY29 and FY30. The company is pursuing an Exploration Target of 14 to 21 million tonnes at 1.9 to 2.4 grams per tonne, representing 0.85 to 1.6 million ounces of gold. Rebecca-Roe reached a key milestone with the Department of Water and Environmental Regulation granting a Works Approval under Part V of the Environmental Protection Act, leaving routine mining approvals as the final regulatory step for the Roe deposit.
Underlying free cash flow of A$60.2 million during the quarter demonstrates cash generation supporting the expansion program. The A$250 million share buyback program continued, with A$18 million repurchased in the quarter and A$159 million since inception. Key items to monitor include Mt Magnet expansion construction progress, final regulatory approvals for Rebecca-Roe, and production tracking against FY27 guidance. This announcement has been classified as price sensitive and released as a material announcement to the ASX.
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About Ramelius Resources Limited (ASX: RMS)
Ramelius Resources Limited is a gold mining and exploration company that engages in the exploration, evaluation, mine development, operation, production, and sale of gold. The company operates through three segments: Mt Magnet, Edna May, and Exploration, with a portfolio of projects in Australia. Based in Perth, Australia, the company was incorporated in 1979 and generates the majority of its revenue from gold mining operations.
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