Ramelius Resources Limited (RMS) Earnings Call Presentation

Financial Performance & Guidance - Ramelius achieved FY24 production of 293,033oz at an AISC of A$1,583/oz[15] - FY25 production guidance is 301,664oz at an AISC of A$1,550 – A$1,650/oz, expected to be at the lower end of the range[15] - Ramelius reported a record free cash flow of A$694.9 million for FY25[27] - Free cash flow per ounce produced in FY25 was A$2,304[32] - The company's FY25 margin over AISC is 63%[36] Resources & Reserves - Mineral Resources as of June 30, 2024, are 8.7Moz[15] - Ore Reserves as of June 30, 2024, are 1.1Moz, plus Rebecca-Roe 850koz and Eridanus 680koz[15] - Mt Magnet has a new 17-year mine plan with 2.1Moz, up 37% from 2024[15] Corporate & Strategic - Ramelius has a market capitalization of A$2.8 billion at A$2.45 per share[15] - Cash and gold holdings are A$809.7 million[15] - Investments total A$506 million, including a 20.95% stake in Spartan Resources[15] - Ramelius has a vision to become a +500koz/pa producer by FY30[13] - A transformational combination with Spartan Resources is planned, aiming for a 500koz pa vision by FY30[20] Spartan Resources Transaction - Ramelius is acquiring 100% of Spartan Resources via a Scheme of Arrangement[107] - Spartan shareholders will receive $0.25 cash and 0.6957 Ramelius shares for each Spartan share, implying a fully-diluted equity value for Spartan of ~A$2.4 billion[107] - Spartan shareholders (excluding Ramelius' existing 19.9% shareholding) will own 39.5% of the enlarged Ramelius (Combined Group) if the Scheme is implemented[107]