A cyclone, soaring diesel prices and operational disruptions might have slowed Ramelius Resources in the March quarter but not enough to knock it off course.
The company has reaffirmed its 2025-26 financial year (FY26) production guidance, delivering a resilient performance under challenging conditions.
Ramelius reported gold production of 38,093 ounces for the period, bringing year-to-date output to 138,716 ounces. Operations at Mt Magnet were impacted by a planned six-day shutdown and haul road closures linked to heavy rainfall from Cyclone Narelle, leaving significant high-grade stockpiles at quarter end.
These included 56,000 at 3.70 grams per tonne (g/t) from Dalgaranga and 8000 at 3.36g/t from Penny, positioning the company for a stronger June quarter. Ramelius expects to hit the midpoint of its 185,000–205,000 ounce FY26 guidance range.
“Mt Magnet produced 38,093 ounces in the quarter with production year-to-date of 138,716 ounces,” Ramelius Resources managing director Mark Zeptner said. “We remain on track to deliver at the mid-point of our FY26 production guidance with significant contributions from Dalgaranga and Cue planned in the June 2026 quarter.”
“Dalgaranga’s first stope in the Never Never orebody was fired ahead of schedule on March 13, 2026 and above grade expectations at above 7 grams per tonne. While still early days, the geological model is reconciling better than expected and our newest mine is off to a fantastic start.”
Financially, Ramelius posted underlying free cash flow of $101.9 million before hedging, buybacks and tax impacts, and closed the quarter with $606.5 million in cash and gold.
Despite rising diesel prices, the company said operations remain insulated as Mt Magnet is largely powered by solar and gas and supported by more than 12 months of stockpiled mill feed.
Ramelius also continued shareholder returns, completing $110.2 million in buybacks during the quarter.
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