Ramelius Resources Limited · ASX:RMS
Ramelius Resources — H1 FY23 Earnings Presentation
15 slides from Ramelius Resources's earnings presentation, Feb 21, 2023
Slide 1: Results Presentation for the Half-Year to 31 December 2022
Ramelius Resources Limited For personal use only Mark Zeptner Tim Manners Managing Director Chief Financial Officer ASX:RMS Results Presentation for the Half-Year to 31 December 2022 RESULTS PRESENTATION HALF-YEAR ENDED 31 DECEMBER 2022 • FEBRUARY 2023 1
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: Production Flexibility from Multiple Assets
PRODUCTION FLEXIBILITY FROM MULTIPLE ASSETS For personal use only # Mid-point of FY23 Production Guidance, see ASX Release “December 2022 Quarterly Activities Report”, 25 January 2023 RESULTS PRESENTATION HALF-YEAR ENDED 31 DECEMBER 2022 • FEBRUARY 2023 3
Slide 4: H1 FY23 Mining & Production
H1 FY23 MINING & PRODUCTION For personal use only 2,054kt 118,000 ore mined oz prod. ↑ ↑ 5% on H1 FY22 11% on H1 FY22 141koz A$2,499 contained gold mined /oz sold ↑ 13% on H1 FY22 ↑ 7% on H1 FY22 2.13g/t A$2,044 mined grade /oz AISC ↑ 8% on H1 FY22 ↑ 39% on H1 FY22 RESULTS PRESENTATION HALF-YEAR END
Slide 5: H1 FY23 Underlying Financial Results
H1 FY23 UNDERLYING FINANCIAL RESULTS For personal use only $304.8M $108.6M Revenue Pre-tax cash from operating activities ↑ ↑ 8% on H1 FY22 2% on H1 FY22 $106.3M $84.1M Underlying EBITDA1 Invested in Project Development ↑ 34% on H1 FY22 ↑ 67% on H1 FY22 $32.7M $154.0M Underlying NPAT1 Cash & gold on
Slide 6: Underlying Earnings Reconciliation
UNDERLYING1 EARNINGS RECONCILIATION ➢ Underlying earnings have been impacted by: For personal use only ➢ Average realised gold price increased by 7% improving revenues by $19.2M ➢ Lower gold production from lower throughput at Edna May as free carry low grade stockpiles are depleted ➢ Non-cash NRV a
Slide 7: Reconciliation of Movement in Cash for the Half-Year
RECONCILIATION OF MOVEMENT IN CASH FOR THE HALF-YEAR ➢ Underlying cash outflow of $13.5M For personal use only ➢ Cash flows have been impacted by: ▪ A 67% increase in investments in mine development including Penny, Galaxy, & Die Hardy ▪ Continued build of stockpiles with total gold inventories incr
Slide 8: 3-Year Outlook
3-YEAR OUTLOOK* ➢ Includes Ore from: For personal use only ▪ Mt Magnet – Eridanus, Hill 60, Shannon, Galaxy, Vivien & Penny ▪ Edna May – Edna May underground, Tampia, Marda & Symes Find ➢ Production maintained between 240,000 – 300,000 oz p.a. ➢ AISC declining to A$1,500/oz in FY25 (mid-point) ➢ Hig
Slide 9: Improving Margins on the Horizon
IMPROVING MARGINS ON THE HORIZON ➢ Group gold production Guidance for For personal use only FY23 remains at 240,000 – 280,000 ounces at an AISC of A$1,750 – A$1,950 ➢ Capital & Development expenditure of approximately $59M ➢ AISC expected to reduce as commercial levels of production from Penny are s
Slide 10: Balance Sheet
BALANCE SHEET BALANCE SHEET LIQUIDITY RISK MANAGEMENT For personal use only ➢ $154.0M in cash & bullion with ~145,000 ounces ➢ Hedge book represents ~25% of the contained in stockpiles and GIC next 3 year’s production; ➢ Provides balance of cash flow certainty ➢ $339.8M in total liquid assets and in
Slide 11: Inorganic Growth - Return on Investment a Key Driver
INORGANIC GROWTH - RETURN ON INVESTMENT A KEY DRIVER ➢ Track record of generating positive (net) cash For personal use only flow* from new projects ➢ Inventory build up shown in chart as notional cashflow: ▪ Marda: 351kt @ 1.3g/t for 15koz ▪ Tampia: 967kt @ 1.7g/t for 51koz ▪ Penny: 22kt @ 8.4g/t fo
Slide 12: Ramelius - Well Positioned for H2 FY23 and Beyond
RAMELIUS - WELL POSITIONED FOR H2 FY23 AND BEYOND For personal use only Proven management team adept in either greenfields development or Operational Excellence refurbishment & operation of both open pit and underground mines Strong balance sheet, disciplined approach to capital management with a Ba
Slide 13: Thank You
THANK YOU For personal use only Ramelius Resources Limited ASX Code: RMS Level 1, 130 Royal Street East Perth WA 6004 Authorised for release to the ASX by the Managing Director. For further information contact: Investor enquiries: Media enquiries: Mark Zeptner Tim Manners Luke Forrestal Managing Dir
Slide 14: Appendix 1: H1 FY23 Financial Summary
APPENDIX 1: H1 FY23 FINANCIAL SUMMARY For personal use only Financials Units Dec 2022 Dec 2021 Change Revenue A$M 304.8 310.1 (2%) EBITDA A$M 101.1 187.7 (46%) Underlying EBITDA1 A$M 106.3 160.4 (34%) EBIT A$M 44.0 106.3 (59%) Underlying EBIT1 A$M 49.1 78.9 (38%) NPAT A$M 29.1 73.4 (60%) Underlying
Slide 15: Appendix 2: Reconciliation of Underlying & Statutory Earnings
APPENDIX 2: RECONCILIATION OF UNDERLYING & STATUTORY EARNINGS For personal use only Reconciliation of NPAT Units Dec 2022 Dec 2021 Change Statutory NPAT A$M 29.1 73.4 (60%) Gain on sale of non-core assets (net of tax) A$M - (21.2) 100% Impairment of exploration & evaluation assets (net of tax) A$M 3