Ramelius Resources has posted solid gold production for the December 2025 quarter, reinforcing its balance sheet strength while highlighting rising cost pressures across operations in Western Australian.
The ASX-listed gold producer delivered 45,610 ounces during the quarter, keeping the company on track to meet its full-year guidance despite lower grades at some operations.
All-in sustaining costs rose to around $1977 an ounce, reflecting inflationary pressures and the increasing contribution of underground mining.
While costs climbed, Ramelius ended the quarter with a substantial cash and gold balance of $694 million and generated operating cash flow of nearly $150 million.
“Our strong operating cash flow this quarter allows us to continue investing in growth while maintaining returns to shareholders and a robust balance sheet,” Ramelius managing director Mark Zeptner said.
This, the company said, underlines financial resilience amid volatile gold markets.
Management has leaned into that strength by approving a $250 million on-market share buyback and lifting its minimum dividend policy to two cents per share, moves likely to appeal to income-focused investors as gold prices fluctuate.
At the same time, Ramelius is pushing ahead with its growth pipeline. Underground development at the Never Never deposit is progressing, with first ore stockpiled ahead of processing expected in March.
Early works have also commenced on the Mt Magnet plant expansion, while drilling at the Mars and Saturn prospects continues to extend known mineralisation.
An exploration target range has been set at six–seven million tonnes at a grade of between 2.1–2.6 grams per tonne for 400,000–600,000 ounces.
The company also secured a key Native Title agreement at its Rebecca-Roe project, clearing a major hurdle for future development.
Read more: How gold’s latest record reshapes the outlook for Australian miners
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