Ramelius posts bumper half year profit, up 313% on strong Au sales

Ramelius Resources Ltd (ASX:RMS) told investors that the half year to 31 December 2024 had been an extremely strong one for the company, with net profits jumping 313% to $170.3 million, on the back of gold sales revenues which had reached $506.4 million.

Earnings before interest, tax, depreciation and amortization (EBITDA) was also up, registering a 119% leap for $307.6M (from $140.2M in the half year to 31 December 2023).

Directors have recommended but not paid a dividend of 3 cents per share (cps).

The spike in revenue had been supported by both higher gold prices and improved mill grades at Mt Magnet, with 143,032 ounces of gold being sold overall for the period at an average realised gold price of A$3,541 per ounce.

Production from Mt Magnet and Edna May production centres – both in WA – totalled 147,755 ounces of gold during the half-year period, at an All-in Sustaining Cost (AISC) of A$1,699 per ounce.

Ramelius said its guidance for the 2025 fiscal year remained between 270,000 and 300,000 ounces at an AISC of A$1,500 – 1,700 per ounce.

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