Ramelius Advances FY26 Targets with Dalgaranga On Track and $250M Buyback

Steady Production and Strong Cash Flow

Ramelius Resources has reported a solid December 2025 quarter with gold production reaching 45,610 ounces, bringing the year-to-date total to 100,623 ounces. This performance keeps the company firmly on track to meet its FY26 guidance range of 185,000 to 205,000 ounces. Underlying free cash flow before tax and dividends stood at a healthy A$67 million, underscoring the operational strength of the business despite a significant A$118.2 million income tax payment and A$60.3 million returned to shareholders through dividends.

Project Development and Expansion

The Dalgaranga mine development remains a highlight, progressing on schedule and within budget. The company expects to deliver the first ore from the Never Never deposit to its Mt Magnet processing hub in the March 2026 quarter. Meanwhile, Mt Magnet’s plant expansion is advancing with engineering and preliminary site works underway, supported by the appointment of Simon Schmid as General Manager of Major Projects. These developments are critical as Ramelius pursues its ambitious five-year plan to become a 500,000-ounce gold producer by FY30.

Strategic Agreements and Exploration Focus

A significant milestone was reached with the signing of a Native Title Mining Agreement with the Kakarra Part B Native Title Holders for the Rebecca-Roe project, clearing a path for further development. Exploration efforts continue to target multiple promising areas including Penny, Cue, and the Galaxy Mine Area, with an increased focus on underground potential at Gilbeys, Four Pillars, and Applewood in the second half of FY26. Surface targets such as Sly Fox, Plymouth, and the Never Never to Golden Wings trend also remain key priorities.

Capital Management and Shareholder Returns

In a move that signals confidence in its financial position, Ramelius has initiated a A$250 million share buyback program and increased its minimum dividend level to two cents per annum. The buyback program is set to commence following the release of the half-year financial report targeted for 20 February 2026, reflecting a disciplined approach to capital allocation and shareholder value enhancement.

Looking Ahead

Chief Operating Officer Tim Hewitt emphasised the company’s momentum and the potential upside from its accelerated drilling program, which will provide further clarity on exploration targets in the coming weeks. With key projects advancing and a clear pathway to growth, Ramelius is positioning itself for a transformative period in the Australian gold mining sector.