Slide 1: Investor Presentation September 2023
Ramelius Resources Limited For personal use only Mark Zeptner Managing Director ASX:RMS Investor Presentation INVESTOR PRESENTATION • SEPTEMBER 2023 1 September 2023
Slide 2: Forward Looking Statements
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$1.6B (US$1.05B) @ A$1.46 per share FY23 Production2 240,996oz @ AISC of A$1,895/oz (US$1,232/oz) Cash & Gold3 A$272.1M (US$176.8M) FY24 Guidance2 250,000 – 275,000oz @ AISC of A$1,550 - 1,750/oz (US$1,007 – 1,137
Slide 4: Projects - Two Production Centres, One Development Project in Western Australia
PROJECTS - TWO PRODUCTION CENTRES, ONE DEVELOPMENT PROJECT IN WESTERN AUSTRALIA ➢ 1) Mt Magnet: For personal use only ▪ Mt Magnet has produced over 6Moz since mining first began in 1891 ▪ 2.0Mt pa mill with both open pit and underground sources within 5km ▪ High grade Penny underground ore trucked 1
Slide 5: 2023 Resources & Reserves
2023 RESOURCES & RESERVES1 ➢ Mineral Resources For personal use only ▪ 160Mt @ 1.5g/t for 7.6Moz ➢ Ore Reserves ▪ 18Mt @ 1.6g/t for 0.93Moz ➢ FY24 Resource conversion priorities ▪ Rebecca/Roe (3.1Moz) ▪ Cue (927koz)2 ▪ Bartus (202koz) ▪ Penny (70koz)3 ➢ Future Resource conversion potential ▪ Edna Ma
Slide 6: Financial Metrics - Year Trend (A$)
FINANCIAL METRICS - 5 YEAR TREND (A$) For personal use only 1 Underlying NPAT has been adjusted for impairment charges, asset sales, and other and one-off items, see Financial Statements released today for reconciliation 2 Working capital is current assets less current liabilities INVESTOR PRESENTAT
Slide 7: AISC Margin - Now Turned the Corner
AISC MARGIN - NOW TURNED THE CORNER ➢ FY23 group gold production For personal use only 240,996oz at AISC A$1,895/oz (US$1,232/oz) ➢ AISC expected to reduce as commercial levels of production from Penny are sustained into FY24 ➢ AISC margins are forecast to expand in both FY24 & 25 ➢ FY24 group gold
Slide 8: 2023 M&A Activity
For personal use only 2023 M&A ACTIVITY INVESTOR PRESENTATION • SEPTEMBER 2023 8
Slide 9: Acquisitions on Strategy - Breaker Acquired & Musgrave Reaches 90% Acceptances
ACQUISITIONS ON STRATEGY - BREAKER ACQUIRED & MUSGRAVE REACHES 90% ACCEPTANCES For personal use only INVESTOR PRESENTATION • SEPTEMBER 2023 9
Slide 10: Ramelius Successfully Acquires Breaker
RAMELIUS SUCCESSFULLY ACQUIRES BREAKER1 ➢ Breaker Resources NL, owner of the Lake Roe Gold Project For personal use only (Roe), acquired in May 2023 ▪ Roe Mineral Resources of 32 Mt @ 1.6 g/t Au for 1.7 Moz 2 ▪ Breaker’s shareholders received 1 Ramelius share for every 2.82 Breaker shares held, givi
Slide 11: Roe Gold Project - Overview
ROE GOLD PROJECT - OVERVIEW ➢ Tier 1 location For personal use only ▪ ~100km east from Kalgoorlie, in Australia’s premier gold province ▪ Southern end of the Keith – Kilkenny Tectonic Zone ➢ Bombora & Crescent - Kopai deposits ▪ 1.7Moz Mineral Resource (32Mt @ 1.6g/t Au)* ▪ Bombora deposit – the 1.5
Slide 12: Ramelius Reaches 90% Acceptances to Acquire Musgrave
RAMELIUS REACHES 90% ACCEPTANCES TO ACQUIRE MUSGRAVE ➢ Ramelius to acquire Musgrave Minerals Ltd (ASX:MGV), owner For personal use only of the Cue Gold Project in Western Australia, via recommended scrip and cash off-market takeover Offer for $0.341 per share ▪ Cue Gold Project has Mineral Resources
Slide 13: Cue Gold Project - Overview
CUE GOLD PROJECT - OVERVIEW ➢ Tier 1 location For personal use only ▪ 40km north of the town of Mt Magnet in WA ▪ 5km from the Great Northern Highway ▪ Prime location within the Murchison Goldfield ➢ Cue Gold Project Mineral Resources1 ▪ Totals 12.3Mt @ 2.3g/t Au for 927koz, includes: o Break of Day
Slide 14: Key Project Updates
For personal use only KEY PROJECT UPDATES INVESTOR PRESENTATION • SEPTEMBER 2023 14
Slide 15: Penny - In Full Production & Resource Extensions Delivered
PENNY - IN FULL PRODUCTION & RESOURCE EXTENSIONS DELIVERED ➢ Mineral Resources - 430kt @ 18.3g/t for 250koz1 For personal use only . ➢ Ore Reserve - 480kt @ 14.0g/t for 210koz1 ➢ Stoping well underway, multiple fronts open ➢ Haulage now matching mine production ➢ UG drilling producing excellent resu
Slide 16: Mt Magnet: Galaxy (Saturn & Mars) Development in Full Swing
MT MAGNET: GALAXY (SATURN & MARS) DEVELOPMENT IN FULL SWING ➢ Galaxy For personal use only . ▪ Decline rehab progressed down below Mars access points ▪ Ore driving commenced, production ramp up during FY24 ▪ Resource definition drilling ongoing, with recent results incl*: ▪ 2.8m @ 9.40g/t Au ▪ 11.1m
Slide 17: Symes - New High Margin Open Pit Feed for Edna May
SYMES - NEW HIGH MARGIN OPEN PIT FEED FOR EDNA MAY ➢ 120km by road from Edna May For personal use only . ➢ Mineral Resource1 of 1.4Mt at 1.7tg/t for 75koz ➢ Site infrastructure completed ➢ Final approvals received ➢ Ore haulage now underway 1See RMS ASX Release “3 Year Production Outlook & Study Upd
Slide 18: Vivien & Tampia - Progressive Rehabilitation Where Possible
VIVIEN & TAMPIA - PROGRESSIVE REHABILITATION WHERE POSSIBLE ➢ Vivien – mined from 2015 - 2023 For personal use only . ▪ Minimised additional surface disturbance using in-pit disposal only ▪ Historic waste dump with remediation carried out ▪ Infrastructure largely removed, ripped & ready for seeding
Slide 19: Sources of Future Growth
For personal use only SOURCES OF FUTURE GROWTH INVESTOR PRESENTATION • SEPTEMBER 2023 19
Slide 20: Organic Growth - Mining/Processing Studies
ORGANIC GROWTH - MINING/PROCESSING STUDIES* Centre Study Description Status / Next Key Date For personal use only Hill 50 underground: Work has been undertaken to examine. the potential to target June 2024 Resources with diamond drilling at depth. Other underground development projects, such as Bart
Slide 21: 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 as notional c/flow ▪ Marda: 300kt @ 1.56g/t for 15koz ▪ Tampia: 1,184kt @ 1.47g/t for 56koz ▪ Penny: 6kt @ 7.20g/t for 1koz ➢
Slide 22: Ramelius - Well Positioned for 2024 and Beyond
RAMELIUS - WELL POSITIONED FOR 2024 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 focus
Slide 23: 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 24: Appendix - 2023 Mineral Resource Statement
APPENDIX 1 - 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 Upda
Slide 25: Appendix - 2023 Ore Reserve Statement
APPENDIX 2 - 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 info