Ramelius Resources (ASX: $RMS) achieves record gold production in March 2024 quarter

Ramelius Resources Limited (ASX: $RMS) has announced a record gold production of 86,928 ounces in the March 2024 Quarter, surpassing the implied gold production Guidance for the Quarter of 70,000 - 77,500 ounces. The company's balance sheet has also strengthened considerably with net cash and gold of $407.1 million following a record free cash flow of $125.3 million. The All-In Sustaining Cost (AISC) for the Quarter is expected to be well below Guidance, with an outcome in the range of A$1,375 - 1,475/oz.

Executive Commentary

The Company's achievement of record gold production and strengthened balance sheet reflects our commitment to operational excellence and financial discipline. We are pleased with the significant increase in free cash flow, which positions us well for future growth and investment in our operations. The outperformance in production will be detailed in the upcoming Quarterly Report, and we are optimistic about the positive impact on full year FY24 gold production and AISC Guidance.

Summary

Ramelius Resources Limited (ASX: $RMS) has reported a record gold production of 86,928 ounces in the March 2024 Quarter, exceeding the implied gold production Guidance. The company's balance sheet has significantly strengthened with net cash and gold of $407.1 million following a record free cash flow of $125.3 million. The All-In Sustaining Cost (AISC) for the Quarter is expected to be well below Guidance, indicating improved operational efficiency. The upcoming Quarterly Report will provide further details on the production outperformance and its potential impact on full year FY24 gold production and AISC Guidance. Ramelius remains optimistic about its future growth and investment opportunities.