Business & Investment

Ramelius Resources Shares Hits Record Net Profit (ASX: RMS)

NS Ramelius Resources Ltd [ASX:RMS] After the announcement of full-year financial results, the stock price fell slightly today.

Ramelius is an ASX-listed gold producer that owns and operates several assets in Western Australia.

Ramerius brings record net profit after tax

Throughout the year ending June 30, 2021, Ramerius recorded a record production of 272,109 ounces. This is an 18% increase in production from the previous year, which was 230,426 ounces.

All-in maintenance costs (AISC) are $ 1,317 per ounce, 13% higher than last year’s $ 1,164 per ounce. Revenues also increased 38% to $ 634.3 million.

Ramelius achieved a record net profit of $ 126.8 million, up 12% from last year’s $ 113.4 million. This figure takes into account a one-time $ 3.9 million tax loss gain and a $ 3.5 million write-down of exploration assets.

Ramerius’ results were primarily behind record gold production from Edna May, but also came from the realized rise in gold prices.

Mark Zeptner, Managing Director of Ramelius, said:

Once again, Ramerius unveiled great results this year, with record gold production and record net profit after tax, based further on last year’s results. This is a testament to our continued focus on the growth strategies we pursue and the execution of our plans.

Based on the midpoint of production guidance, 2010 is becoming a record year, and will remain very strong over the next few years due to the introduction of ore from the Tampia gold mine and the development of ultra-high grade Penny underground. It is expected to be there. ..

Ramelius expects to produce 260,000-300,000 ounces of AISC at $ 1,425,525 in 2010.

What’s Next for the RMS Stock Price?

Ramerius has declared a full dividend of 2.5 cents per share to be paid on October 4.

Ramerius’ share price fell about 0.3% at the time of writing after the results were announced, with the share price trading at $ 1.54.

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Selva Freigedo

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Ramelius Resources Shares Hits Record Net Profit (ASX: RMS)

https://www.dailyreckoning.com.au/ramelius-resources-asxrms-hits-record-net-profit-asx-rms/2021/08/26/ Ramelius Resources Shares Hits Record Net Profit (ASX: RMS)

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