Ramelius Resources Delivers First Ore From Western Australia Deposit, Reduces Hedge Book, Shares Up 4%

MT Newswires Live

02/19

Ramelius Resources (ASX:RMS) said that the first ore from the Never Never deposit at Dalgaranga in Western Australia has been hauled and delivered to the Mt Magnet processing plant, according to a Thursday Australian bourse filing.

The company said that it has now closed out the fiscal year 2027 forward contracts and committed to pre-deliver June quarter forward contracts in the March Quarter.

The cost of closing out the fiscal 2027 forward contracts was AU$28.4 million, which will be recognised as an expense in the March quarter and the income statement for the fiscal 2026 report, the company added.

The company expects its revenue to reduce by AU$47.5 million, based on a spot gold price of AU$7,100 per ounce, in the March quarter, which will be reflected in the income statement in the fiscal financial report.

The company intends to increase exposure to the Australian dollar spot gold price, which has averaged around AU$7,000 per ounce for February to date.

The company's shares rose 4% in recent Thursday trade.

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