Ramelius Resources (ASX: RMS) has capped off another strong quarter, reporting record underlying free cash flow of A$223 million and a cash and gold balance of A$657.1 million. This marks the company’s second consecutive record-breaking quarter, as it continues to capitalise on the elevated gold price environment.
March 2025 Quarter Highlights
Gold production: 80,455oz (down from 85,311oz in Dec 2024 Qtr)
- Mt Magnet hub: 67,464oz
- Edna May hub: 12,991oz
– Cash & gold balance: A$657.1M (up from A$501.7M in Dec 2024 Qtr)
– Record free cash flow: A$223M, before a $67.6M income tax instalment
Further details, including FY25 guidance, will be released in the full March 2025 Quarterly Report later this month.
Corporate Updates
First interim dividend: A fully franked A$0.03 per share, payable 17 April 2025.
Spartan Resources acquisition: Ramelius is set to acquire all remaining Spartan Resources (ASX: SPR) shares via a binding Transaction Implementation Deed.
- Scheme of Arrangement: A$0.25 cash + 0.6957 Ramelius shares per Spartan share.
- Backup option: If the Scheme is unsuccessful, an off-market takeover offer will be launched with the same terms.
- Target completion: Late July/early August 2025.
CEO Commentary
Managing Director Mark Zeptner highlighted the company’s financial strength and growth strategy:
“We’ve delivered another record quarter of free cash flow, finishing with over $657 million in cash and bullion. Our operations team continues to maximise cash flows in this strong gold price environment. We’re also excited to integrate Spartan into our business in the September quarter and deliver an Integrated Study of Mt Magnet/Dalgaranga.”
With strong operational momentum and a transformative acquisition underway, Ramelius is well-positioned for further growth in 2025.
