Ramelius Resources has unveiled its definitive feasibility study (DFS) for its Rebecca-Roe gold project in Western Australia’s Goldfields, confirming the project’s strong economics.
The DFS confirms Rebecca-Roe as a powerhouse project, boasting an after-tax net present value (NPV 5 per cent) of $692 million and an internal rate of return (IRR) of 34 per cent, based on a gold price of $4500 per ounce.
The operation is expected to generate $1.03 billion in after-tax cash flow, producing an average of 130,000 ounces of gold per annum over an initial nine-year mine life at an all-in sustaining cost (AISC) of $2625 per ounce.
Mining is set to kick off in late 2027, with first gold expected by the December 2028 quarter, which will mark the beginning of a new chapter for Ramelius in the Eastern Goldfields.
“The Rebecca-Roe DFS confirms the excellent economics of the project at a gold price significantly below the current spot price,” Ramelius Resources managing director Mark Zeptner said.
“With production to commence in late 2028, Rebecca-Roe forms an integral part of our 5-year growth pathway released separately today, which lays out the path to production of more than 500,000 ounces a year, cementing our position as one of Australia’s largest and most profitable gold miners.”
The project will combine open pit and underground mining for a total of 1.2 million ounces of contained gold, supported by a 3.25 million tonne per annum processing plant near Rebecca. Construction will cost around $188 million, fully funded from company cash reserves.
“Along with Dalgaranga and the Eridanus cutback at Mt Magnet, Rebecca-Roe is a key growth project for Ramelius going forward,” Zeptner said.
“Once operational, it will provide us with a new mining hub in an under-explored mining region, which we plan to take advantage of with our proven hub-and-spoke model.”
With financial approval already in hand, Ramelius is now turning its focus to environmental permitting, Native Title agreements and early works.
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