Miner’s cash balance steady despite softer production, higher costs
Gold miner Ramelius Resources has posted softer than expected quarterly production numbers over the September period as it focused on the development of its Cue mine in Western Australia's Murchison, though it has maintained its full-year cost and production guidance. The company produced 62,444oz of gold in the September quarter at all-in sustaining costs of A$1965/oz .
The company had 127,000oz of gold hedged at an average $3123/oz at the end of September through to December 2026. Ramelius currently has no debt. Investment bank Macquarie said it remained ‘neutral' on Ramelius given the mixed quarterly report, assigning a ‘price target' of $2.33 to the miner. Ramelius shares currently trade at circa $2.30 , giving it a market capitalisation of $2.64 billion.
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