Two ASX 200 gold stocks with over 150% 1-year gains - Kalkine Media

October 20, 2023 10:20 PM AEDT | By Sonal Goyal
Follow us on Google News:


  • Shares of Emerald and Ramelius have defied the broader equity market index by a substantial margin in the last 12 months
  • In FY23, Ramelius acquired the Roe Gold Project from Breaker Resources NL
  • Emerald delivered a record profit after tax of US$66.2 million in FY23 and focused on ramping up the group’s gold production

Two ASX-listed gold stocks, Emerald Resources NL (ASX: EMR) and Ramelius Resources Limited (ASX: RMS), have recorded gains of 158.30% and 185.95%, respectively, in the past one year, while the Australian equity benchmark index, S&P/ASX 200 registered a gain of 2.53% in one year.

Peers of EMR and RMS have also registered a significant share price rise during the stated period. For instance, the share price of Capricorn Metals Ltd (ASX: CMM) increased by 54.167%, the share price of Gold Road Resources Ltd (ASX: GOR) surged by 51.64%, and the share price of Northern Star Resources Ltd (ASX: NST) grew by 53.54% in the past 12 months.

Worth mentioning here is that both stocks are gold stocks, and in the past one year, the S&P/ASX All Ordinaries Gold (XGD) index, the benchmark index for Australian gold companies, appreciated 53.18%. XGD has outperformed the broader market index by a wide margin.

Let’s delve deeper into these gold stocks.

Ramelius Resources Limited (ASX: RMS)

Rameliusis is an ASX-listed gold mining, production and exploration firm which owns and manages multiple gold mines in Western Australia.

During the financial year 2023 (FY23), the company delivered a 5% YoY growth in revenue to AU$631.3 million and a 3% YoY growth in NPAT to AU$75.3 million. Its gold production was 240,996 oz at an AISC of AU$1,895/oz.

The key highlight of the year was the acquisition of the Roe Gold Project from Breaker Resources NL. The mineral resource of the Roe Gold project is 32Mt at 1.6g/t for 1.7 million ounces of contained gold. Moreover, the company announced a bid for Musgrave Minerals Limited, which owns the Cue project near Mount Magnet.

In the financial year 2024, the company expects to deliver gold production of 250,000 – 275,000 ounces at an AISC of AU$1,550 – 1,750 per ounce.

RMS shares closed 0.289% up at AU$1.730 apiece on 20 October with a market cap of AU$1.93 billion.

Emerald Resources NL (ASX: EMR)

Headquartered in Perth, Western Australia, Emerald is an explorer and developer of gold projects.

During the financial year, the company delivered record profit after tax of US$66.2 million, and net profit attributable to equity holders stood at US$68.56 million. Gold revenue last year zoomed by 45% to US$299.47 million, and gold sales increased by 14% YoY to 108,901 ounces.

At the Okvau gold mine, the gold production guidance is 100-110koz on an annual basis, and production guidance for FY24 is 25-30k oz per quarter. The cash costs are expected to increase to US$780-850/oz.

Presently, the company is focused on ramping up the group’s gold production, growing the reserve of Okvau Gold Mine and advancing its Memot Project into a mineable reserve. Also, it wants to see the North Laverton Gold project move towards development.

EMR shares closed 2.127% up at AU$2.880 apiece on 20 October 2023 with a market cap of AU$1.75 billion.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK