Ramelius Resources (ASX: $RMS) Cue Project Approval Update

Ramelius Resources Limited (ASX: $RMS) has received approval for the Key Mining Proposal from DEMIRS and completed a Pre-Feasibility Study (PFS) for the Cue Project in Western Australia. The project demonstrates robust financial returns with minimal upfront capital requirements and high overall open pit grades. The Maiden Ore Reserve, upfront capital cost, and AISC have been outlined, with early works expected to commence in June 2024.

Managing Director's Commentary on Cue Project Approval

Our key operating mines continue to perform well, tracking at the higher end of guidance and in accordance with our recently released Mt Magnet 10-Year Plan. The Cue Project will deliver ore to the Mt Magnet hub in parallel with the Penny high grade ore. This high margin combination will deliver significant returns with our cash balance already exceeding A$500M. Additional underground potential still remains at both Cue and Penny.

Summary of Cue Project Approval and Outlook

Ramelius Resources Limited (ASX: $RMS) has received approval for the Cue Project, demonstrating robust financial returns and high overall open pit grades. The project's Maiden Ore Reserve, upfront capital cost, AISC, and Pre-tax NPV6% have been outlined, with early works expected to commence in June 2024. The company's Managing Director, Mark Zeptner, highlighted the potential for significant returns and the presence of additional underground potential at both Cue and Penny. The updated Mineral Resources and Reserves are planned to be incorporated and released in September 2024, indicating a positive outlook for the company's future operations and growth.