Ramelius Resources Limited · ASX:RMS
Ramelius Resources — Diggers & Dealers 2024
24 slides from Ramelius Resources's conference presentation, Aug 5, 2024
Slide 1: Ramelius Resources Limited – Diggers & Dealers August 2024
Ramelius Resources Limited For personal use only Mark Zeptner Managing Director ASX:RMS Diggers & Dealers August 2024 DIGGERS & DEALERS • AUGUST 2024 1 July 2024
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$2.2B @ A$1.94 per share FY24 Production 293,033oz @ AISC of A$1,583/oz Cash & Gold2 A$352.5M FY25 Guidance3 270,000 – 300,000oz @ AISC of A$1,500 – 1,700/oz Listed Mineral Resources4 7.6Moz at 30 June 2023 (exclu
Slide 4: Project Portfolio
PROJECT PORTFOLIO Ramelius’ portfolio: For personal use only ➢ Mt Magnet: 10-Year Mine Plan with upside potential1 ➢ Edna May: Realising significant cash flows through to Q3 FY25 ➢ Rebecca/Roe: 3.1Moz2 project, PFS for delivery Q2 FY25 Strategic investment: ➢ 18.35% stake in Spartan Resources acquir
Slide 5: Free Cash Flow – A$315.8M in FY24
FREE CASH FLOW - A$315.8M in FY24 For personal use only ➢ FY24 gold production record of 293,033oz2 (Guidance 285,000 – 295,000oz) ➢ FY24 AISC of A$1,583/oz (Guidance A$1,550 - 1,650/oz2) ➢ FY24 capital expenditure of A$49.6M2 (Guidance A$45 - 50M) ➢ The result: ▪ Sector leading cash flows ▪ Outstan
Slide 6: Free Cash Flow – peer comparison
FREE CASH FLOW - peer comparison For personal use only Source: information is based on publicly released corporate information released to the ASX or other similar exchange. Resolute, Perseus, and OceanaGold report in USD. These amounts have been converted to A$ at an exchange rate of AUD:USD 0.66.
Slide 7: AISC – delivering on increased margins
AISC - delivering on increased margins, even better than previously forecast For personal use only ➢ FY24 margin 47% over AISC (was previously 37%) ➢ FY25 assumes a A$3,500/oz gold price, net of hedges ➢ FY25 margin 52% over AISC (was previously 50%) ➢ Currently experiencing the best margins in last
Slide 8: Mt Magnet Update
For personal use only MT MAGNET UPDATE DIGGERS & DEALERS • AUGUST 2024 8
Slide 9: Mt Magnet – primary driver of free cash flow, Eridanus upside to come
MT MAGNET - primary driver of free cash flow, Eridanus upside to come Key Hub Metrics For personal use only Metric From 1 Jan 2024 Total Production5 +1.5Moz Average Annual ~150koz Production1 AISC2 (first 3.5 years) A$1,350/oz Potential Eridanus open pit with expanded mill4 AISC2 (full Mine Plan) A$
Slide 10: Mt Magnet – Eridanus upside
MT MAGNET - Eridanus upside ➢ Eridanus production (included in Mt Magnet For personal use only Mine Plan1) includes Production Target of 230koz - 330koz from underground option ➢ Updated Mineral Resource Estimate2 of 21Mt at 1.7g/t for 1,200,000 ounces ➢ Updated Mineral Resource includes high grade-
Slide 11: Mt Magnet – Eridanus upside (open pit cutback)
MT MAGNET - Eridanus upside ➢ Open Pit cutback option For personal use only ▪ Optimisation @ A$2,500/oz gold price ▪ Production Target 9 - 13Mt at 1.2 – 1.8g/t for 500 – 600koz1 ▪ Potentially represents 6 years mill feed ➢ de 1 See RMS ASX Release “Ramelius delivers 10 Year Mine Plan at Mt Magnet”,
Slide 12: Mt Magnet – Galaxy extensions
MT MAGNET - Galaxy extensions ➢ Saturn & Mars For personal use only . ▪ Stoping established at Mars, development commenced into Saturn ▪ Resource definition drilling ongoing, with recent results incl*: ▪ 9.4m at 11.8g/t Au ▪ 16.8m at 6.88g/t Au ▪ 26.1m at 6.01g/t Au ▪ Building momentum with multiple
Slide 13: Cue – mining now underway
CUE - mining now underway ➢ Ramelius study completed (open pits) For personal use only ▪ Ore Reserve - 2.7Mt at 2.9g/t for 250,000oz1 ➢ Pre-strip and project development commenced in June 2024 (see below) ➢ First ore Q2 FY25 with high grade zones reached in early Q3 FY25 (see opposite) 1 See RMS ASX
Slide 14: Penny – free cash flow of A$95M in H2 FY24
PENNY - free cash flow of A$95M in H2 FY24, targeting ~A$800/oz2 AISC for FY25 ➢ Performing in line with Ore Reserve1 For personal use only . ➢ Best parts of orebody yet to be accessed ➢ Deeper drilling to commence in September 1 See RMS ASX Release “Resources and Reserves Statement 2023”, 14 Septem
Slide 15: Rebecca / Roe Project
For personal use only REBECCA / ROE PROJECT DIGGERS & DEALERS • AUGUST 2024 15
Slide 16: Roe Gold Project – Bombora underground drilling program complete
ROE GOLD PROJECT - Bombora underground drilling program complete For personal use only DIGGERS & DEALERS • AUGUST 2024 16
Slide 17: Rebecca / Roe Project – all coming together
REBECCA / ROE PROJECT - all coming together ➢ Rebecca For personal use only ▪ Mineral Resource of 33Mt @ 1.3g/t Au for 1.4Moz* ➢ Roe ▪ Mineral Resource of 32Mt @ 1.6g/t Au for 1.7Moz* ▪ Updated Mineral Resource expected later this month ➢ Drilling at Roe complete, awaiting assays & completion of mod
Slide 18: FY25 Outlook
For personal use only FY25 OUTLOOK DIGGERS & DEALERS • AUGUST 2024 18
Slide 19: FY25 Gold Production & AISC Guidance
FY25 GOLD PRODUCTION & AISC GUIDANCE - another strong year ahead ➢ Mt Magnet up 50% to 240,000 ounces For personal use only at the mid-point ➢ Edna May to process remaining stockpiles to produce 45,000 ounces (mid-point) then C&M ➢ Edna May Stage 3 not proceeding in favour of better returns at Mt Ma
Slide 20: Thank You – Booth
THANK YOU - BOOTH 25 For personal use only Ramelius Resources Limited ASX Code: RMS Level 1, 130 Royal Street East Perth WA 6004 Authorised for release to the ASX by the Managing Director For further information contact: Investor enquiries: Media enquiries: Mark Zeptner Darren Millman Luke Forrestal
Slide 21: AISC – peer comparison
AISC - peer comparison For personal use only Source: information is based on publicly released corporate information released to the ASX or other similar exchange. Resolute, Perseus, and OceanaGold report in USD. These amounts have been converted to A$ at an exchange rate of AUD:USD 0.66 DIGGERS & D
Slide 22: Value Generating M&A – return on investment scoresheet
VALUE GENERATING M&A - return on investment scoresheet ➢ Track record of generating positive (net) For personal use only cash flow* from new projects ➢ Inventory build-up shown as notional c/flow ▪ Marda: 153kt @ 1.57g/t for 8koz ▪ Tampia: 203kt @ 1.47g/t for 10koz ▪ Symes: 156kt @ 1.67g/t for 8koz
Slide 23: 2023 Mineral Resource Statement
2023 MINERAL RESOURCE STATEMENT For detailed information relating to Mineral Resources see ASX Releases (RMS) “Resources and Reserves Statement 2023”, 14 September 2023. For personal use only For updated information related to the Penny deposit, see RMS ASX Release “Penny Gold Mine Update”, 15 Septe
Slide 24: 2023 Ore Reserve Statement
2023 ORE RESERVE STATEMENT For detailed information relating to Ore Reserves For personal use only see ASX Releases (RMS) “Resources and Reserves Statement 2023”, 14 September 2023. The Company confirms that it is not aware of any new information or data that materially affects the information inclu