Ramelius Resources has capped off the 2024–25 financial year (FY25) with record-breaking results, more than doubling its profit.
The mid-tier gold producer posted a net profit after tax of $474.2 million, up 119 per cent on FY24, with EBITDA climbing 81 per cent to $818.6 million.
Operating cash flow surged 92 per cent to $856.4 million, underpinning a total fully franked dividend of $0.08 per share, a 60 per cent increase on last year.
“The record gold production of 301,664 ounces in FY25 has resulted in record financial performance on all metrics,” Ramelius Resources managing director Mark Zeptner said.
“Our industry leading metric of $2304 generated in free cash flow from every ounce produced cements our position as a high-margin producer and demonstrates our commitment to quality ounces and high-grade deposits.”
Group all-in sustaining costs dropped two per cent to $1551 per ounce, while the realised gold price jumped to $3963 per ounce, up 32 per cent.
Mt Magnet was the star performer, delivering $624.9m in gross profit, a 220 per cent lift year-on-year with ore from Penny and Cue providing the grade uplift.
The Edna May operation also made a meaningful contribution with $70.2 million in gross profit before transitioning into care and maintenance later in FY25.
Ramelius closed FY25 with $809.7m in cash and bullion, plus an undrawn $175m debt facility, giving the company a robust platform to pursue growth.
Looking ahead, the company said the combination with Spartan Resources would be “transformational”, as it aims to be a 500,000-ounce producer by FY30.
“As we look forward, the integration of the high-grade Dalgaranga deposit into the Mt Magnet hub is what excites me the most,” Zeptner said. “We will continue to balance the need to reward shareholders with returns with reinvesting in the business for future growth.”
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