Ramelius Resources Limited · ASX:RMS
Ramelius Resources — Euroz Hartleys Rottnest Island Conference 2025
32 slides from Ramelius Resources's conference presentation, Mar 11, 2025
Slide 1: 2025 Mt Magnet Mine Plan
Ramelius Resources Limited For personal use only Mark Zeptner Managing Director ASX:RMS 2025 Mt Magnet Mine Plan 11 March 2025 1 EUROZ HARTLEYS, ROTTNEST ISLAND WA • MARCH 2025
Slide 2: Forward Looking Statements and Competent Persons Statement
QUALIFICATION Forward Looking Statements For personal use only This presentation contains certain forward looking statements with respect to Ramelius Resources Ltd’s (Ramelius) financial condition, results of operations, production targets and other matters that are subject to various risks and unce
Slide 3: Corporate Summary
CORPORATE SUMMARY Corporate Structure Gold Guidance For personal use only Market Cap1 A$3.15B @ A$2.73 per share FY24 Production 293,033oz @ AISC of A$1,583/oz (Achieved Production & Cost Guidance) Cash & Gold2 A$501.7M FY25 Guidance3 270,000 – 300,000oz @ AISC of A$1,500 – 1,700/oz Listed Mineral R
Slide 4: Project Portfolio - Mt Magnet in Focus
PROJECT PORTFOLIO - MT MAGNET IN FOCUS RAMELIUS OWNED For personal use only ➢ Mt Magnet ▪ +6Moz historical production with 2Moz under Ramelius ownership since 2014 ▪ New 17-Year, 2.1Moz Mine Plan with further upside potential1 ➢ Rebecca-Roe2 ▪ PFS delivered December 2024 with 1.1Moz Mine Plan over 9
Slide 5: Mt Magnet Mine Plan
For personal use only MT MAGNET MINE PLAN EUROZ HARTLEYS, ROTTNEST ISLAND WA • MARCH 2025 5
Slide 6: Mt Magnet – History of Generating New Project Cashflow
MT MAGNET – HISTORY OF GENERATING NEW PROJECT CASHFLOW ➢ Track record of generating positive (net) cash For personal use only flow1 from new projects ➢ $483M in operating cash generated across Mt Magnet in CY24 ➢ Projected to generate over $450M2 in operating cash flow in CY25 ➢ Open pit and undergr
Slide 7: Mt Magnet - +2Moz Production Profile
MT MAGNET - +2MOZ PRODUCTION PROFILE* Key Hub Metrics For personal use only Metric From 1 Jan 2025 Total Production +2Moz Average Annual Production (next ~140koz 10 years)1 AISC2 (next 2.5 years) A$1,600/oz AISC2 (next 10.5 years) A$1,870/oz Growth Capex - PP&E A$210M Growth Capex - pre-production A
Slide 8: Mt Magnet Mine Plan (2025 vs 2024)
MT MAGNET MINE PLAN (20252 VS 20241) RECONCILIATION OF 20241 AND 20252 MINE PLAN (Koz) For personal use only 1 See RMS ASX Release “Ramelius delivers 10 Year Mine Plan at Mt Magnet”, 12 March 2024 2 See RMS ASX Release “Ramelius’ new 17-Year, 2.1Moz Mine Plan at Mt Magnet, up 37% from 2024”, 11 Marc
Slide 9: Mt Magnet - By Ore Source
MT MAGNET - BY ORE SOURCE GOLD PRODUCTION1 BY ORE SOURCE (KOZ) For personal use only 1 The Mine Plan contains both a proportion of Inferred Resource (9%) and an Exploration Target (2%). There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty
Slide 10: Mt Magnet - Physicals & Financials
MT MAGNET - PHYSICALS & FINANCIALS For personal use only 1 H2 FY25 reflects a half-year from Jan-25 to Jun-25 for Mt Magnet only 2 Processing schedule includes starting stockpile of 3.1Mt @ 0.93g/t for 92koz of contained gold (excluding low grade stockpiles) 3 Operating Costs (column) are the total
Slide 11: Eridanus
For personal use only ERIDANUS EUROZ HARTLEYS, ROTTNEST ISLAND WA • MARCH 2025 11
Slide 12: Eridanus - Large Scale Open Pit
ERIDANUS - large scale open pit OPEN PIT CUTBACK For personal use only ➢ Updated Total Mineral Resource (open pit / underground) of 24Mt at 1.7g/t for 1.3Moz1 ➢ Maiden Ore Reserve (open pit only) of 18Mt at 1.2g/t for 680koz1 ➢ Represents 9 years mill feed at 2Mtpa 1 See RMS ASX Release “Ramelius’ n
Slide 13: Eridanus Cutback - PFS Key Highlights
ERIDANUS CUTBACK - PFS key highlights* Pre-Feasibility Study (December 2024) A$3,500 A$4,500 ➢ Start date April 2026 For personal use only Parameter Unit (base case) A$4,000 (spot) General Mining commencements (subject to Board approval) Month April 2026 ▪ Mining Proposal submitted Mining (open pit)
Slide 14: Eridanus - What Lies Beneath
ERIDANUS - what lies beneath…. UNDERGROUND For personal use only ➢ Underground Mineral Resource of 4.2Mt at 2.3g/t Au (310koz1) ➢ Underground Production Target of 4.3Mt at 1.4g/t Au (200koz1) ➢ Start date FY34, waiting for Cutback completion ➢ Up-front capital expenditure expected to be low ➢ Eridan
Slide 15: Eridanus - Gold Production Profile
ERIDANUS - gold production profile Production highlights Unit FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 FY36 FY37 FY38 FY39 FY40 MINE PLAN For personal use only Open pit mining Material moved Kbcm 4,288 14,499 11,624 11,132 9,709 5,961 4,432 3,440 1,228 - - - - - - 66,313 Strip ratio (high g
Slide 16: Mt Magnet Mill Upgrade
For personal use only MT MAGNET MILL UPGRADE EUROZ HARTLEYS, ROTTNEST ISLAND WA • MARCH 2025 16
Slide 17: Checkers Process Plant Upgrade
CHECKERS PROCESS PLANT UPGRADE A Scoping Study was undertaken to examine potential options to expand the grinding and throughput capacity of the Checkers For personal use only Process Plant. The planned upgrades consist of: ➢ Larger primary crusher (200kW 55” x 47”) ➢ Installing a new 3.5MW SAG mill
Slide 18: Checkers Process Plant Upgrade Cost
CHECKERS PROCESS PLANT UPGRADE ESTIMATED UPGRADE COST $95M (INCL. $25M CONTINGENCY): For personal use only ➢ Process plant upgrade $80M ➢ Electrical power distribution $10M ➢ Water supply upgrades $5M Reduced milling cost going forward; EUROZ HARTLEYS, ROTTNEST ISLAND WA • MARCH 2025 18
Slide 19: Exploration Upside by Project
For personal use only EXPLORATION UPSIDE BY PROJECT EUROZ HARTLEYS, ROTTNEST ISLAND WA • MARCH 2025 19
Slide 20: Penny - Diamond Drilling Underway Across Lease
PENNY - diamond drilling underway across lease For personal use only 0.55m at 22g/t ➢ Diamond drilling of strike / down-plunge extensions of Penny lodes in progress ($2M budgeted) ➢ 0.55g/t at 22.5g/t intersected 50m below Penny North lode (March 2025 drill result) EUROZ HARTLEYS, ROTTNEST ISLAND WA
Slide 21: Cue - Exploration Due to Start Shortly
CUE - exploration due to start shortly BREAK OF DAY For personal use only ➢ Open Pit Mineral Resource – 610kt at 8.2g/t for (160koz)1 ➢ Open Pit Ore Reserve – 880kt at 4.5g/t (130koz)2 ➢ Underground Mineral Resource – 240kt at 6.3g/t for 48koz2 ➢ Robust high-grade mineralisation associated with the
Slide 22: Galaxy - Underground Drilling Underway
GALAXY - underground drilling underway… SATURN & MARS For personal use only ➢ 5-year mine plan designed to only 400mbs included in 10- Year Mine Plan, significant extensions likely both along strike and at depth ➢ New greenfields program targeting Saturn East BIF ($A2.5M budgeted) HILL 50 ➢ 2.1Moz m
Slide 23: Group Production Profile
For personal use only GROUP PRODUCTION PROFILE EUROZ HARTLEYS, ROTTNEST ISLAND WA • MARCH 2025 23
Slide 24: Group Production - 3.1Moz Total, 2.6Moz Over Next 10.5 Years
GROUP PRODUCTION - 3.1Moz TOTAL, 2.6Moz OVER NEXT 10.5 YEARS For personal use only ➢ Mt Magnet Mine Plan3 + Rebecca-Roe PFS4 Results ➢ 3.1 Moz over 17-year production profile ➢ Average of ~244koz pa (FY26 to FY35) at an AISC of ~ A$2,130/oz ➢ Ore Reserves – Updates5 ▪ Mt Magnet: 20Mt at 1.6g/t for 1
Slide 25: Key Focus Areas in H2 FY25
KEY FOCUS AREAS IN H2 FY25 For personal use only Centre Description Status/Next Key Date Corporate/Company Continue to improve Safety performance Group-wide On track Deliver FY25 Guidance On track Mt Magnet Complete Eridanus underground/open pit studies March 2025 Quarter Complete Mt Magnet Processi
Slide 26: Contact Details
CONTACT DETAILS For personal use only Ramelius Resources Limited ASX Code: RMS Level 1, 130 Royal Street East Perth WA 6004 Authorised for release to the ASX by the Managing Director. For further information contact: Investor enquiries: Media enquiries: Mark Zeptner Darren Millman Luke Forrestal Man
Slide 27: Appendix 1: 2024 Mineral Resource Statement
MINERAL RESOURCES AS AT 30 JUNE 2024 - INCLUSIVE OF RESERVES Project Deposit Measured Indicated Inferred Total Resource t g/t oz t g/t oz t g/t oz t g/t oz APPENDIX 1: 2024 MINERAL RESOURCE STATEMENT Morning Star Bartus Group Boomer 4,900,000 410,000 1,200,000 1.9 1.2 1.8 300,000 16,000 68,000 4,300
Slide 28: Appendix 2: 2024 Ore Reserve Statement
APPENDIX 2: 2024 ORE RESERVE STATEMENT For detailed information relating to Ore Reserves see ASX Releases (RMS) “Resources and Reserves Statement ORE RESERVE STATEMENT AS AT 30 June 2024 2024”, 2 September 2024. For personal use only Project Mine Prov en Probable Total Reserv e t g/t oz t g/t oz t g
Slide 29: Appendix 3: Rebecca-Roe PFS Key Highlights
APPENDIX 3: REBECCA-ROE PFS KEY HIGHLIGHTS Parameter Unit Pre-Feasibility Study ➢ After tax NPV5% of A$332 million at a base case of A$3,500/oz (December 2024) For personal use only General Start date (site establishment) Mth January 2026 ➢ At a gold price of A$4,000/oz, after tax NPV5% is A$610 mil
Slide 30: Appendix 4: Rebecca-Roe DFS
APPENDIX 4: REBECCA-ROE DFS ➢ Board approval to commence Definitive For personal use only Study Definitive Feasibility Study Feasibility Study (DFS) Area + / - 10% accuracy 10% design / engineering ➢ Final Investment Decision targeted for Drilling Sterilise drilling for Camp, Airstrip and Roe waste
Slide 31: Appendix 5: Hesperus Open Pit
APPENDIX 5: HESPERUS OPEN PIT – New to the Mt Magnet Mine Plan OPEN PIT CUTBACK For personal use only ➢ Mineral Resource (open pit) of 8.9Mt at 0.8g/t for 240koz1 ➢ First ore to be delivered to Mt Magnet in FY35 ➢ Last mined in September 2007 1 See RMS ASX Release “Ramelius’ new 17-Year, 2.1Moz Mine
Slide 32: Appendix 6: Mt Magnet – Annual Production Profile LOM
APPENDIX 6: MT MAGNET – ANNUAL PRODUCTION PROFILE LOM* Key Hub Metrics For personal use only Metric From 1 Jan 2025 Total Production +2Moz Average Annual Production (next ~140koz 10 years)1 AISC2 (next 2.5 years) A$1,600/oz AISC2 (next 10.5 years) A$1,870/oz Growth Capex - PP&E A$210M Growth Capex -
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