Ramelius Resources (ASX: RMS) fronted the Noosa Mining Conference in July 2026 with a lot to talk about. Between the growth pathway, fresh exploration results, and a clear plan for shareholder returns, there was plenty for investors to unpack.
Figure 1: Ramelius Resources company logo [Courtesy: Ramelius Resources]
This Ramelius Resources ASX update Australia matters for anyone tracking the mining sector. Dalgaranga has now arrived as a genuine production contributor, and the Company’s five-year outlook points to substantial growth by FY30.
What Happened at the Noosa Mining Conference
The whole range of operations was covered in Ramelius’ presentation, from production to exploration through to the plan for maintaining payment shares. What was more exciting was the headline number that Dalgaranga added: around 53,466 ounces in just the June quarter.
Figure 2: Five-year production and cost outlook to FY30 [Courtesy: Ramelius Resources]
The bigger story sits five years out. This Ramelius Resources mining update 2026 points to roughly 525,000 ounces a year by FY30, a 170 per cent jump from where the Company sits today.
Five Year Production and Cost Outlook
| Financial Year | Mill Throughput | Production (koz) | AISC (A$/oz) |
| FY26 | 1.9Mt | 185 to 205 | $1,975 |
| FY27 | 1.9Mt | 200 to 220 | $1,855 |
| FY28 | 4.1Mt | 280 to 310 | $1,815 |
| FY29 | 6.5Mt | 385 to 425 | $2,250 |
| FY30 | 7.5Mt | 500 to 550 | $1,960 |
| Long-term (FY31-FY35) | 7.5Mt | 500 to 550 | $1,890 |
Why This Ramelius Resources ASX Update Matters for Investors
The Company is expecting free cash flow to be greater than A$1 billion per annum from FY30. This only holds true if gold remains at about A$4,500 an ounce.
Costs matter just as much as ounces. Ramelius is guiding to an average AISC of A$1,995 per ounce across the next five years. Management described this figure as peer-leading among ASX gold producers.
This matters because rising throughput alone does not guarantee stronger margins in the mining sector. Cost discipline determines whether growth actually converts into shareholder value. Ramelius appears to be managing both levers at once, expanding output at Dalgaranga and Mt Magnet while keeping costs below the peer average.
For investors weighing this Ramelius Resources ASX update Australia against other mid-tier gold producers, that combination of scale and cost control is the key differentiator worth watching closely over the next few reporting periods.
When These Developments Took Place
Ramelius took investors through the numbers in July 2026, walking back through the June quarter. Shareholders had already banked an interim dividend by then, 3 cents per share, fully franked, paid on 15 Apr 2026.
The buyback story started earlier, on 10 Dec 2025, when Ramelius kicked off its A$250 million program. By the conference date, the Company had completed A$141.7 million, representing 56 per cent of the total program.
How Dalgaranga and Mt Magnet Are Progressing
Dalgaranga has moved from early contributor to the largest single production source within a year. The site produced just under 700 ounces in the March 2026 quarter before jumping sharply in June.
Figure 3: Quarterly gold production by site shows Dalgaranga’s rapid ramp-up [Courtesy: Ramelius Resources]
Dalgaranga Project Milestones
Ramelius Resources reported strong construction progress at Dalgaranga during this update. The paste plant, underground pump station, and surface workshop are all substantially complete.
These Ramelius Resources Noosa Conference insights highlight the operational discipline behind the ramp-up. Site infrastructure now supports higher throughput ahead of the FY27 financial year.
Figure 4: Paste plant construction progresses at the Dalgaranga site [Courtesy: Ramelius Resources]
Mt Magnet Processing Plant Expansion
Mt Magnet is being upgraded to 4.3 million tonnes per annum total capacity. The existing 1.9Mtpa circuit will reduce to 1.3Mtpa, while a new 3.0Mtpa circuit is under development.
Figure 5: Solar and wind infrastructure supports the Mt Magnet hybrid power plant [Courtesy: Ramelius Resources]
Front-end engineering design work is nearing completion, with EPC award targeted for the September 2026 quarter. The Company has also completed foundations for a 46MW hybrid power plant, combining solar, battery, and wind generation.
Mt Magnet Hybrid Power Plant Summary
| Component | Capacity | Status |
| Solar power | 6.7MW | Installed |
| Battery storage | 8.3MW | Installed |
| Wind turbines | 2 x 7MW | Foundations completed |
| Total hybrid capacity | Up to 46MW | Under construction |
Exploration Upside Across the Portfolio
Ramelius is running an aggressive exploration program across its Mt Magnet Hub, using eight surface rigs and four underground rigs. This activity underpins the Company’s plan to displace lower grade ore with higher grade discoveries.
Cue and Galaxy High Grade Results
Recent drilling at Cue’s Lena deposit returned 19.7 metres at 5.73 grams per tonne gold. Break of Day underground chipped in too, with 4.0 metres at 4.01 grams per tonne.
Figure 6: Galaxy long section shows recent drilling and the exploration target area [Courtesy: Ramelius Resources]
Galaxy stole the show this round. One of the holes returned 20.2m at 40.7 grams per tonne from across the portfolio, arguably its standout result.
Key Exploration Results and Resources
| Deposit | Recent Drill Result | Current Resource | Exploration Target |
| Cue (Break of Day UG) | 4.0m at 4.01g/t | 250Kt at 8.9g/t for 72koz | N/A |
| Cue (Lena UG) | 19.7m at 5.73g/t | 910Kt at 3.6g/t for 110koz | N/A |
| Galaxy (Mt Magnet) | 20.2m at 40.7g/t | 6.2Mt at 2.7g/t for 530koz | 6.0-7.0Mt at 2.1-2.6g/t, 400-600koz |
| Franks Tower | 14.8m at 54.6g/t | 2.9Mt at 1.0g/t for 97koz | Pending MRE update |
| Gilbeys (Dalgaranga) | 16.6m at 6.01g/t | 6.9Mt at 1.9g/t for 380koz | 2.1-4.7Mt at 1.5-2.0g/t, 100-300koz |
Gilbeys and Rebecca-Roe Underground Potential
Gilbey’s Underground keeps delivering. Another good result from a hole at Dalgaranga was 16.6 metres at 6.01 grams per tonne gold through an already strong suite of results. Newly defined resources total 6.9 million tonnes at a grade of 1.9 grams per tonne or 380,000.
Figure 7: Gilbey’s Underground long section outlines resource and exploration target zones [Courtesy: Ramelius Resources]
At Rebecca-Roe, the Duke deposit returned 23.9 metres at 3.23 grams per tonne gold. Ramelius Resources is testing underground potential at Rebecca, Duke, and Duchess simultaneously, which could extend mine life well beyond current open pit plans if results continue converting into measured resources.
Shareholder Returns and Capital Management
Ramelius paid A$320 million in dividends over the past seven years, alongside A$142 million in completed buybacks. The Company’s current payout policy sits at 30 per cent, with plans to increase this from FY28.
Figure 8: Cumulative shareholder returns from dividends and buybacks [Courtesy: Ramelius Resources]
Management described its approach as “maintain, then grow” for shareholder returns. Mining update 2026 Ramelius Resources confirms the dividend strategy remains entirely funded from operating cash flow.
Dividend History (Cents Per Share)
| Financial Year | Dividend (cps) |
| FY19 | 1.0 |
| FY20 | 2.0 |
| FY21 | 2.5 |
| FY22 | 1.0 |
| FY23 | 2.0 |
| FY24 | 5.0 |
| FY25 | 8.0 |
| FY26 to date | 3.0 (interim) plus buybacks |
Share Price Snapshot (A$)
- Last price: A$3.165 per share
- Market capitalisation: A$5.85 billion
- 52 week range: A$2.430 to A$5.160 per share
- Debt facility: A$500 million available, nil drawn
- Cash and gold on hand: A$650 million
- Listed investments: A$93 million
Figure 9: Ramelius Resources (ASX: RMS) share price and volume over the past 12 months [Courtesy: Ramelius Resources]
Industry Outlook for the ASX Gold Sector
Global gold prices have supported strong margins across the ASX gold sector throughout 2026. Peer companies including Northern Star, Evolution Mining, and Genesis Minerals face similar cost pressures and production targets.
Ramelius benchmarks its A$1,995 per ounce forecast AISC against this peer group, claiming a leading cost position. An ASX announcement from October 2025 first outlined this five-year growth pathway to the market.
Mid-tier gold producers everywhere are feeling the squeeze. Labour and energy costs keep climbing across Western Australia, and growth alone will not save a balance sheet. The companies that hold their costs steady while output rises tend to keep paying dividends when gold prices turn.
Ramelius is betting its future on being one of them. This dynamic is shaping how brokers and analysts are rating gold equities heading into FY27.
Future Direction and Impact on Gold Production Growth
The Company’s future direction centres on delivering 525,000 ounces per annum by FY30. This expansion will consequently affect gold production ability across the Murchison and Goldfields areas.
A$100 million has been allocated for exploration at Galaxy, Gilbeys and Cue, targeting high-grade extensions in FY27. This exploration budget was confirmed in a recent ASX announcement along with the wider growth strategy.
Continued success across Rebecca-Roe and Mt Magnet will shape long-term production beyond FY30. This Ramelius Resources mining sector update Australia sets a clear roadmap for shareholders monitoring the Company’s next steps, particularly as EPC contracts are awarded, and new underground developments move from exploration targets into scheduled mine plans.
FAQ
Q1. What did Ramelius Resources announce at the Noosa Mining Conference?
Ans. The Company outlined its five-year growth plan and Dalgaranga project progress.
Q2. What is the production target for Ramelius Resources by FY30?
Ans. Ramelius expects approximately 525,000 ounces per annum by FY30.
Q3. How much has Ramelius Resources paid shareholders so far?
Ans. A$320 million in dividends over seven years, plus A$142 million in buybacks.
Q4. Where are Ramelius Resources’ main projects located?
Ans. Its projects span Mt Magnet, Cue, Dalgaranga, and Rebecca-Roe in Western Australia.
Disclaimer
This article is meant only for informational purposes. If you are an investor watching Ramelius Resources Limited closely, all data published in the content is sourced from ASX announcements and company presentations. Kindly verify all information related to share price and market data independently. Any investment should be made at the investor’s own risk. Colitco does not hold any position in the above-mentioned company.
Source
- https://www.marketindex.com.au/data-api/api/v1/announcements/XASX:RMS:6A1335005/pdf/inline/noosa-mining-conference-presentation
- https://www.asx.com.au/markets/company/RMS
- https://www.rameliusresources.com.au/
Luke Carlino is a seasoned Copywriter, Content Strategist, and Social Media Manager specialising in Mining, Finance, and Business journalism. With more than a decade of industry experience, he brings rigorous editorial standards and commercial acuity to every project.
