Ramelius Resources Completes Acquisition of Marda Gold Project


Ramelius Resources Limited (ASX: RMS) is a gold exploration, and production company with exploration activities focused in Western Australia. The Company also explores for base metals.

The company stated through a release on the exchange that it has successfully completed the acquisition of the Marda Gold Project (“Marda”). Following the receipt of Federal Court approval to transfer the shares of Black Oak Minerals Limited (Administrators Appointed) to the company on 31 January 2019, the company has subsequently paid the final consideration of $11.0 million, accomplishing the transaction. 

Marda is located 191km north-northeast of the company’ Edna May operations and the works on development studies will now be finalised, with results to date demonstrating that utilising Marda as a satellite ore source to supply high-grade feed will extend mine life and maximise the value of existing infrastructure at Edna May.

The company’s Managing Director, Mark Zeptner, today said that the successful acquisition of the Marda Gold Project secures additional high-grade ore within trucking distance of the Edna May processing facility, reinforcing the company’ commitment to growth, and well and truly establishing Edna May as a new production hub. The team is already working on bedding down Marda as an additional ore source to enhance the value of operations at Edna May, with integration expected to commence by the middle of the calendar year.

For the FY ended 30 June 2018, the Company reported a net profit before tax of $45.5 million representing an 81% increase from the $25.1 million reported in the prior year. Profit after tax was $30.8 Million up 74% from last year’s $17.7 million. This result was achieved on the back of record gold production of 208,118 ounces of gold, a significant increase from the 125,488 ounces produced in 2017, thanks to the excellent contribution of the newly acquired Edna May gold mine and improved performance of the Mt Magnet and Vivien mining projects.

Sales revenue was a record $341.8 million compared to $197.4 million in 2017. Cash flows from operating activities for the year was $118.9 million compared to $83.4 million in 2017, cash at bank was $75.0 million and only down by $3.5 million from last year’s balance of $78.6 million after payment of $38.4 million cash consideration for the Edna May gold mine acquisition and expenditure of $65.6 million on capital development and $13.6 million on exploration.

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Now, let us have a quick look at Ramelius Resources Limited’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $0.592, trading down by 0.504% during the day’s trade with a market capitalisation of ~$ 374.11Mn. The counter opened the day at $ 0.585 and touched the day’s high of 0.605 and touched the day’s low of $ 0.585 with a daily volume of 2,378,007. The stock has provided a YTD return of 21.43% & also posted returns of 23.96%, 46.91% & 12.26% over the past six months, three & one-months period respectively. It had a 52-week high price of $0.645 and touched 52 weeks low of $ 0.380, with an average volume of 2,070,965 approximately.


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