Ramelius Resources has released its September quarterly report showcasing an increase in both mineral resources and ore reserve for its gold mining operations across Western Australia.
Mineral resources increased 38 per cent in the September quarter, sitting at 210 million tonnes (Mt) at 1.8 grams per tonne (g/t) of gold for 12 million ounces (Moz) of gold and ore reserves now sit at 57Mt at 1.3g/t for 2.4Moz of gold – seeing an uplift of 118 per cent.
Ramelius also posted group gold production of 55,000 ounces at an all-in-sustaining cost (AISC) of $1,836 an ounce and an underlying free cash flow of $129 million.
Exploration activity was reported to have ramped up in the report, with exploration guidance increasing to $80–$100 million and significant results from infill and extensional drilling across Ramelius’ portfolio being reported.
The September quarter also saw a “transformational” combination with Spartan Resources which saw Ramelius more than double its profit in the 2024-25 financial year.
Ramelius completed the acquisition of Spartan Resources in July, bringing the Dalgaranga gold project into its portfolio to help the company become a 500,000-ounce producer by FY30.
“The Ramelius team looks forward to completing the integration of the Dalgaranga asset into our portfolio, building on the collaboration that Spartan has been open to during the scheme process,” Ramelius managing director Mark Zeptner said at the time of the acquisition.
Significant intercepts include 25.4m at 11.4g/t gold and 43.5m at 11.7g/t gold at Never Never Dalgaranga mine 475km northeast of Perth, plus standout results from Pepper, Perseverance South, Hesperus, Mirkwood, and Rebecca-Roe.
The results highlight strong mineralisation continuity and expansion potential across Ramelius’ gold portfolio.
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