The Western Australian gold miner's resources are now estimated at 110 million tonnes grading 1.6 grams per tonne for 5.5 million ounces.

 

The resource boost came from Ramelius' efforts at Eridanus, Galaxy and Edna May. 

 

There were no significant purchases during the year, following its 2017 takeover of Explaurum for the Tampia deposit and 2020 purchase of Spectrum Metals for the Penny West deposit.

 

Tampia is now feeding the Edna May mill, and Penny is under development.

 

Reserves are 17Mt at 2gpt for 1.1Moz, remaining steady over the past year.

 

Tampia has reserves of 230,000oz grading 2.7gpt, while Penny-Magenta host 230,000oz at 14gpt.

 

The flagship Mt Magnet operations have its largest reserves, 440,000oz at 1.3gpt across multiple open pit and underground mines.

 

The company said its focus remained on consistently meeting production guidance, by using "realistic resource modelling and deliverable reserve estimates".

 

The company delivered record full-year gold production of 272,109oz with a record net profit after tax of A$126.8 million.

 

The miner closed the financial year in a net cash position of $234 million.

 

Ramelius aims to produce 260,000-300,000oz at all-in sustaining costs of $1425-1525/oz for the 2022 financial year.

 

Shares in Ramelius have traded between $1.18-$2.53 over the past year, last trading at $1.41, valuing it at $1.1 billion.