https://www.miningweekly.com

Ramelius reports a solid FY

25th August 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold miner Ramelius Resources has reported 14% increase in revenues for the 2017 financial year ended June, on the back of a 13% increase in gold production.

Revenues for the full year increased from A$173.7-million reported in 2016 to A$197.4-million, with gold production during the period up from 110 839 oz to 125 488 oz.

Earnings before interest, tax, depreciation and amortisation increased by 12% during the full year, to A$84.6-million; however, after-tax profit fell by 36% to A$17.7-million, from the A$27.5-million reported in 2016.

During the year under review, the company increased its cash and gold to A$89.9-million after raising net additional capital of A$23.4-million and spending A$22.4-million on capital development and rehabilitation.

The company told shareholders on Friday that with cash and bullion of A$89.9-million at the end of June, and no corporate debt, Ramelius was in a strong financial position to take advantage of any corporate opportunities that could arise.

In the meantime, the company is progressing its Water Tank Hill underground gold mine into production, with the miner expecting gold production in 2018 to reach between 125 000 oz and 135 000 oz.

Edited by Creamer Media Reporter

Comments

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 03 May 2024
Magazine round up | 03 May 2024
3rd May 2024
Resources Watch
Resources Watch
2nd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.115 0.152s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: