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RAMELIUS RESOURCES LIMITED — Earnings Release 2015
Feb 3, 2015
65718_rns_2015-02-03_a22caca6-085e-4da1-b0e4-3397b6078054.pdf
Earnings Release
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4 February 2015 For Immediate Release
RAMELIUS RETURNS TO PROFIT - DECEMBER 2014 HALF YEAR PROFIT GUIDANCE
The Directors of Ramelius Resources Limited (ASX: “RMS”) are pleased to advise that the Company is expected to report a half year profit for the six months to 31 December 2014 of A$5.7 million.
The expected consolidated pre-tax profit of A$5.7 million is based on gross gold sales revenue of A$67 million for the six months to 31 December 2014 at an average gold sales price of A$1,398/oz, compared to a pre-tax loss of A$81.1 million and gold sales of A$56 million for the December 2013 half-year.
Gross margin generated from operations for the half year is expected to reflect a surplus of A$7.7 million, a sharp improvement of 139% from the A$19.6 million deficit in the previous corresponding period.
Ramelius Chief Executive Officer, Mark Zeptner today said:
“The half year financial result has returned the Company to profit following the above guidance production achieved during the latter half of the reporting period at the Mt Magnet gold mine in Western Australia. This, combined with high margin production from the Coogee open pit, has strengthened our balance sheet with a substantial increase in cash since 30 June 2014.
The Company’s robust cash position is very pleasing particularly given the recent increases in the Australian dollar gold price, which augurs well for our plans to increase the overall production profile above 100,000 ounces per annum”.
Ramelius advises that the pre-tax half year profit for 31 December 2014 is approximate, based on internal management accounts and subject to completion of the half year financial report and audit review.
The consolidated half year financial statements will be lodged with the ASX as soon as possible following completion of the half year audit review.
For further information contact:
Mark Zeptner Chief Executive Officer Ramelius Resources Limited Ph: 08 9202 1127