Ramelius Resources (RMS) Mining Forum Americas 2026 summary

Strategic outlook and portfolio growth

• Targeting over 600koz annual gold production by FY30, with FY27 guidance at 205-225koz and FY30 outlook at 560-610koz, supported by two major hubs in Western Australia.

• Mt Magnet hub expansion and Rebecca-Roe greenfield development underpin production growth, with Rebecca-Roe's first gold expected in Q4CY28 and construction commencing December 2027.

• Exploration investment of US $70M planned for FY27, focusing on high-grade targets to lift average grades, extend mine life, and drive production beyond the 2030s.

• Mt Magnet positioned to become a top 10 global gold-producing hub by 2030, leveraging expanded infrastructure and high-grade discoveries.

• Portfolio quality enhanced through disciplined capital allocation, hub development, and consistent resource replenishment, achieving a 27% CAGR in Ore Reserves since 2016.

Financial performance and capital discipline

• FY30 annual free cash flow projected at US $1.1-1.3bn, with strong leverage to gold price and sector-leading FCF per ounce.

• Maintains a low-cost position with FY27 AISC guidance of US $1,505-1,645/oz and FY30 outlook of US $1,470-1,680/oz, supporting high margins and robust cash generation.

• 65% of FY26 free cash flow returned to shareholders while investing in growth, with total shareholder returns up 96% year-on-year.

• Average historical ROI of ~270% and IRR of ~50% across major projects, with US $0.6bn cash and gold on hand and US $0.9bn total liquidity as of September 2026.

• Capital allocation framework balances strength, returns, and growth, with major growth capital fully funded from existing reserves and future cash flow.

Operational execution and cost leadership

• Consistent track record of meeting or exceeding production guidance and maintaining AISC discipline, with historical AISC margins averaging 50% and outlook margins at 62% for FY27-30.

• Mt Magnet processing plant upgrade to 4.3Mtpa (potential for 5Mtpa) enhances throughput and operational reliability, with capital investment focused on long-term efficiency.

• High-grade discoveries at Mt Magnet and Dalgaranga (Never Never) have increased forecast ounces and improved mill feed quality, supporting higher production at stable costs.

• Exploration success at Galaxy and Cue delivered significant new resources, with ongoing drilling and scoping studies to unlock further underground potential.

• Sector-leading FCF yield and cost base position the group favorably among global gold producers in Tier-1 jurisdictions.