RAMELIUS RESOURCES LIMITED — Interim / Quarterly Report 2011

Apr 26, 2011

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.

Name of entity

Ramelius Resources Limited

ABN Quarter ended ("current quarter") 51 001 717 540 31 March 2011

Consolidated statement of cash flows

		Current quarter	Year to date
	Cash flows related to operating activities	$A'000	(9 months)
			$A'000
1.1	Receipts from product sales and related debtors	33,640	117,821
1.2	Payments for
	(a) exploration and evaluation	(8,520)	(18,977)
	(b) development		(335)
	(c) production	(6,625)	(24,331)
	(d) administration	(783)	(2,081)
1.3	Dividends received
1.4	Interest and other items of a similar nature
	received	1,159	2,606
1.5	Interest and other costs of finance paid
1.6	Income taxes paid	(6,396)	(6,396)
1.7	Other (provide details if material) )
	GST & Fuel Tax Rebate	535	2,214
	Prepaid expenses	(107)	(960)
	Listing fees	(1)	(36)
	Recoverable costs		(91)
	Property related expenses	(74)	(224)
	Purchase of Gold ore / nugget	(872)	(2,960)
	Consultants	(30)	(165)
	Other Expenses	(12)	(88)
	Other Income		39
	Net Operating Cash Flows	11,914	66,036
	Cash flows related to investing activities
1.8	Payment for purchases of:
	(a) prospects
	(b) equity investments	(1)	(37,419)
	(c) other fixed assets	(954)	(1,782)
1.9	Proceeds from sale of:
	(a) prospects	10	10
	(b) equity investments
	(c) other fixed assets	292	292
1.10	Loans to other entities
1.11	Loans repaid by other entities
1.12	Other (provide details if material)
	Net investing cash flows	(653)	(38,899)
1.13	Totaloperatingandinvestingcashflows
	(carried forward)	11,261	27,137

• See chapter 19 for defined terms.

1.13	Totaloperatingandinvestingcashflows
	(brought forward)	11,261	27,137
	Cash flows related to financing activities
1.14	Proceeds from issues of shares, options, etc.		3
1.15	Proceeds from sale of forfeited shares
1.16	Proceeds from borrowings
1.17	Repayment of borrowings
1.18	Dividends paid		(5,828)
1.19	Other (provide details if material)
	Return of Capital to shareholders		(14,567)
	Payments relating to issue of shares
	Net financing cash flows		(20,392)
	Net increase (decrease) in cash held	11,261	6,745
1.20	Cash at beginning of quarter/year to date	75,640	80,227
1.21	Exchange rate adjustments to item 1.20	(12)	(83)
1.22	Cash at end of quarter	86,889	86,889

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current quarter$A'000
1.23	Aggregate amount of payments to the parties included in item 1.2	223
1.24	Aggregate amount of loans to the parties included in item 1.10

1.25 Explanation necessary for an understanding of the transactions

The amount at 1.23 above represents non executive directors' fees and executive directors' salaries (including SGC superannuation) and lease of property at Kambalda on an arms length basis from a relative of a director.

Non-cash financing and investing activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

Nil

2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest

Nil

Financing facilities available

Add notes as necessary for an understanding of the position.

		Amount available	Amount used
		$A'000	$A'000
3.1	Loan facilities	Nil	Nil
3.2	Credit standby arrangements	Nil	Nil

+ See chapter 19 for defined terms.

Estimated cash outflows for next quarter

		$A'000
4.1	Exploration and evaluation	1,200
4.2	Development	6,500
4.3	Production	9,300
4.4	Administration	750
	Total	17,750

Reconciliation of cash

	Reconciliation of cash at the end of the quarter (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.	Current quarter$A'000	Previous quarter$A'000
5.1Cash on hand and at bank		3,955	1,273
5.2	Deposits at call
5.3	Bank overdraft
5.4	Other (provide details) – Term Deposits	82,934	74,367
	Total: cash at end of quarter (item 1.22)	86,889	75,640

+ See chapter 19 for defined terms.

Changes in interests in mining tenements

		Tenement	Nature of interest	Interest at	Interest at
		reference	(note (2))	beginning	end of
				of quarter	quarter
6.1	Interests in miningtenementsrelinquished, reducedor lapsed	E21/100	Sold	100%	0%
6.2	Interests in miningtenements acquiredor increased	EPM 19040	Application	0%	100%

+ See chapter 19 for defined terms.

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

		Total number	Number quoted	Issuepriceper	Amount paid up per
				security (see note	security (see note 3)
				3) (cents)	(cents)
7.1	Preference
	+securities
	(description)
7.2	Changes during
	quarter
	(a) Increases
	through issues
	(b) Decreases
	through returns
	of capital, buy
	backs,
	redemptions
7.3	+Ordinary
	securities	291,417,805	291,208,795
7.4	Changes during
	quarter
	(a) Increases
	through (i) issues
	(ii) quotation
	(b) Decreases
	through returns
	of capital, buy
	backs
7.5	+Convertible
	debt securities
	(description)
7.6	Changes during
	quarter(a) Increases
	through issues
	(b) Decreases
	through
	securities
	matured,
	converted
7.7	Options			Exercise price	Expiry date
	(description and
	conversion
	factor)
7.8	Issued during
	quarter
7.9	Exercised during
	quarter
7.10	Expired during
	quarter
7.11	Debentures
	(totals only)
7.12	Unsecured
	notes (totals
	only)

+ See chapter 19 for defined terms.

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
• 2 This statement does /does not* (delete one) give a true and fair view of the matters disclosed.

Print name: Dom Francese.................................. Date: ....27/4/2011........................ (Director/Company Secretary)

Notes

• 1 The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
• 2 The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities*.*
• 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
• 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

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+ See chapter 19 for defined terms.