CAPITAL MARKETS

Ramelius calls for incentives

RAMELIUS Resources boss Ian Gordon has used the 10th anniversary of the company to call for explo...

Kristie Batten

This article is 11 years old. Images might not display.

“Australia’s pool of pure gold producers is rapidly dwindling through a combination of resource exhaustion, low levels of exploration and a high level of merger and acquisition activity,” Gordon said.

“For Australia to maintain a viable gold industry, it needs mid-tier independents and juniors to maintain exploration momentum.

“That momentum will stagnate and shrivel unless there is some urgent rewriting of tax relief or investment incentives – whether just for the gold sector or broader minerals exploration activity.”

Gordon said Ramelius would springboard off its success over the past 10 years in discovery and mine development.

“We intend to build a solid and sustainable project pipeline for a second decade of gold exploration and mine development, primarily in Australia but potentially also in select overseas areas such as Nevada offering an early return on investment,” he said.

“We are very proud of Ramelius’ achievement in a long track record of profitability – something achieved against current market trends that places us in a strong position to grow organically via exploration success.”

Over the past 10 years Ramelius has produced 326,000 ounces of gold for total revenue of $A446 million.

Total accumulated full-year profits have amounted to $88.5 million, while the company has returned $33 million to shareholders.

The cashed-up company has a healthy bank balance of $47 million (including gold on hand).

“We will also be able to add to our project portfolio via strategic acquisitions should the right opportunities become available,” Gordon said.

Through the Mt Magnet mine, Ramelius is set to lift production to 100,000 ounces per annum from September this year and is aiming for output of 150,000ozpa by 2016.

Ramelius shares closed half a cent higher to 29.5c.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.