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Gold price boosts Ramelius' returns

24th August 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold miner Ramelius Resources has reported a 420% increase in net profits after tax for the 2020 financial year, on the back of higher gold prices and increased production.

Net profit after tax for the full year reached A$113.4-million, up from the A$21.8-million reported in the 2019 financial year, with earnings before interest, taxes, depreciation and amortisation increasing from A$112.2-million to A$256-million in the same period.

Gold production for the full year was up 17% on 2019, to 230 426 oz, with revenue increasing by 31%, from A$352.8-million to A$460.6-million.

“This is the sixth consecutive year that Ramelius posted a net profit after tax, which demonstrates the operating and financial strength of the company, its quality assets and the success of our growth strategy,” said MD Mark Zeptner on Monday.

“It is very pleasing to also announce a 2c per share fully franked dividend after our record-breaking year, building on the 1c a share dividend paid in October 2019.”

Edited by Creamer Media Reporter

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