Ramelius Resources has started the 2025-26 financial year (FY26) on a strong footing, reporting December quarter gold production of 45,610 ounces, keeping the company on track to meet its full-year guidance of 185,000–205,000 ounces.
“We continue to build on the strong momentum from our first quarter and remain on track to deliver our FY26 guidance with production year-to-date of 100,623 ounces,” Ramelius Resources chief operating officer Tim Hewitt said. “Mt Magnet produced 45,610 ounces in the quarter, in line with our plan with strong contribution from Penny and Cue mines.”
Ramelius is also making bold moves to grow its operations. The company’s five-year gold production outlook lays out a clear path to becoming a 500,000 ounce producer by FY30, supported by detailed technical studies and a fully funded project pipeline.
“The development of the Dalgaranga mine is on time and on budget with first ore from Never Never to be delivered to the Mt Magnet processing plant in the March 2026 quarter,” Hewitt said.
Expansion at Mt Magnet is progressing, with plant engineering works, preliminary site preparation, and the appointment of Simon Schmid as general manager of major projects.
Exploration continues to focus on Penny, Cue and the Galaxy mine area, with second half (H2) FY26 attention also on Gilbeys underground mine potential at West Winds, Four Pillars and Applewood, alongside surface targets including Sly Fox, Plymouth and the Never Never to Golden Wings trend.
The company has initiated a $250 million share buyback program and increased the minimum annual dividend at two cents. Ramelius ended the quarter with cash and gold holdings of $694.3 million and underlying free cash flow of $67 million.
“We look forward to sharing an update from the recently accelerated drilling program at priority targets within our exploration portfolio in coming weeks, demonstrating the significant potential upside at the Mt Magnet production hub,” Hewitt said.
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