Ramelius Resources Completes Acquisition of Marda Gold Project

RMS

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.

Sponsored ad by Kalkine

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.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here