Rand Mining declares 10 cent dividend as quarterly cash flow turns positive

Dividend backed by improved quarterly cash generation

Rand Mining Ltd (ASX:RND) is returning 10 cents per share to shareholders after a sharp improvement in quarterly cash generation, with the dividend fully franked at the 30% company tax rate. The payment comes as Rand reported a A$2.339 million net operating cash inflow for the September quarter, compared with a A$0.908 million outflow in the June quarter.

Cash rose by A$1.273 million during the quarter to A$3.358 million after A$0.844 million of investing outflows and A$0.222 million of borrowing repayments. Customer receipts increased by A$5.407 million to A$17.265 million, more than offsetting higher income tax payments and modest increases in production, exploration and corporate spending. The turnaround is notable against the June quarter cash squeeze, when cash fell to about A$2.086 million and operating cash flow turned negative.

2,908 ounces produced from East Kundana processing

Rand’s 25% share of the East Kundana Joint Venture produced 2,908 ounces of gold from 34,498 tonnes processed through Evolution Mining’s Mungari plant under a toll-treatment agreement. Across the combined Rand and Tribune allocation, 137,992 tonnes grading 2.81 grams per tonne were processed, producing 11,630 ounces at a recovery reported as 93.20% in the production table, although the narrative section states 93.09%.

Mining supplied ore from the Rubicon-Hornet-Pegasus and Raleigh underground operations, alongside the Hornet and Golden Hind open pits. Rand’s allocation of ore mined totalled 55,349 tonnes at 2.05 grams per tonne for 2,843 ounces. The combined Rand and Tribune allocation was 221,396 tonnes for 11,371 ounces, an 11% decline in gold mined against the June quarter.

Golden Hind remains an important part of the operating mix after the Golden Hind production ramp-up, which had delivered its first ore in the previous financial year. In the latest quarter, Golden Hind produced 221,266 tonnes at 1.28 grams per tonne for 9,135 ounces at the EKJV level, while Hornet contributed 111,231 tonnes at 1.30 grams per tonne for 4,650 ounces.

Startrek drilling expands the next resource question

“A Plan view of the assay results location returned from within the quarter for Startrek. Image provided in K10 Mine Grid.”

Exploration continued at the Startrek prospect, where 7,831 metres of drilling was completed during the first quarter of financial 2027. The program included five underground diamond holes and 4,994 metres of reverse-circulation drilling aimed at testing mineralisation at depth and near surface. Assay results from 12 holes were received during the quarter, while no assays had yet been returned for the surface drilling campaign.

Rand said the reported drilling results have not been incorporated into a new or updated Mineral Resource estimate, and that no material change had been made to the previously reported EKJV resources. Further drilling and resource-model updates are planned to support internal mine planning and exploration targeting in financial 2027. The company also reported no safety or environmental incidents during the quarter.

Dividend timing and capital discipline

The dividend’s ex-dividend date is 19 November 2026, with payment scheduled for 16 December. Rand’s buyback remained available during the quarter but purchased no shares, and is due to expire on 11 January 2027 unless extended. The dividend therefore offers a direct shareholder return while the company continues to fund development, exploration and mining activity from a relatively modest cash balance.