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RAMELIUS RESOURCES LIMITED Investor Presentation 2015

Aug 2, 2015

65718_rns_2015-08-02_b8373958-0ec3-4dcf-a528-e6646a829786.pdf

Investor Presentation

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Ramelius Resources Limited ASX:RMS Diggers & Dealers – 3-5 August 2015

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Forward Looking and Competent Persons Statements

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Forward Looking Statements

This presentation contains certain forward looking statements with respect to Ramelius’financial condition, results of operations, production targets and other matters that are subject to various risks and uncertainties. Actual results, performance or achievements could be significantly different from those expressed in or implied by those forward looking statements. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are beyond the control of Ramelius that may cause actual results to differ materially from those expressed in the forward looking statements contained herein. Ramelius Resources Limited gives no warranties in relation to the information and statements within this presentation.

Competent Persons Statement

The Information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Kevin Seymour (Exploration Results), Rob Hutchison (Mineral Resources) and Mark Zeptner (Ore Reserves), who are Competent Persons and Members of The Australasian Institute of Mining and Metallurgy. Kevin Seymour, Rob Hutchison and Mark Zeptner are full-time employees of the company and have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Kevin Seymour, Rob Hutchison and Mark Zeptner consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.

Production Targets

Production targets presented for Vivien and Kathleen Valley projects contain Inferred Resources. For details covering the Mineral Resource and Ore Reserve classifications and proportions relating to the production targets refer to slide 26. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Corporate Summary

Capital Structure (as at 30 Jun 15)

Shares on Issue 469M
Listed Options (@ 12c expiry Aug 15) 51M
Market Cap A$54.0M
Cash & Gold A$36.3M
Corporate Debt Nil
Enterprise Value A$17.7M
6 Month Trading Range A$0.05 - $0.15

Significant Shareholders (as at 30 Jun 15)

Sprott Asset Management 7.2%
Board & Management 2.8%
Dimensional Fund Advisors 1.5%

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Board & Management

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Robert Kennedy Non Executive Chairman Mark Zeptner Managing Director Kevin Lines Non Executive Director

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Mike Bohm

Non Executive Director

Share Price v Gold Index

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Ramelius Resources Limited • Diggers and Dealers - August 2015

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The Investment Case

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Australia’s next 100koz p.a gold producer

Capital Position

Operations

Upside

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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Production Targets - FY2016

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Utilising Checker gold mill at Mt Magnet (1.7Mtpa capacity)

Increasing grade & gold production Quarter on Quarter, >100koz run rate from Mar 2016 Qtr

FY2016 - Group Production Profile

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----- Start of picture text -----

40,000 3.0
2.7
35,000
2.5
30,000 2.1
1.9
Mossbecker 2.0
Kathleen Valley
25,000 1.7 &
Yellow Aster
Mossbecker
Vivien
20,000 & 1.5
Yellow Aster
Mossbecker Mossbecker Vivien Mt Magnet
15,000
1.0
Head Grade
Saturn, Mars
10,000 Percy
&
Percy &
Percy 0.5
Percy Brown Hill
5,000
0 0.0
SEP 2015 QTR DEC 2015 QTR MAR 2016 QTR JUN 2016 QTR
g/t Au
Ounces
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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Production Targets - 3 Year Plan[* ]

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Vivien & Kathleen Valley gold projects commenced Q4 FY2015Combines with Mt Magnet over next 3 years using primarily Ore Reserves (92%)

RMS - Group Production Profile

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1,250
1,250
140,000
Yellow Aster
1,100
120,000 1,000
Nil Desperandum
1,000 Coogee
Vivien extensions
100,000 Kathleen (Resources) ⁵
Vivien
750
Mossbecker Kathleen (Reserves)
Coogee
80,000 & Vivien
Yellow Aster Vivien (Resources)³
Vivien (Reserves)
60,000 Vivien 500
Saturn
Mt Magnet (Reserves)
&
40,000 Mars Percy Titan Morning Star AISC
&
& &
250
Brown Hill
Water Tank Hill Satellites
20,000
0 0
FY2015 FY2016 FY2017 FY2018
A$/oz
Ounces
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*Note: FY2018 Production targets for Vivien & Kathleen Valley contain Inferred Resources, refer to slide 26 for further details

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Capital Management - Forward Gold Sales

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RMS Forward Sales @ A$1,570/oz 2 Year average A$1,440/oz

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Operations & Development Projects

Blackmans Gold Project Blackmans Gold Project Blackmans Gold Project
Resource Tonnes 490kt
Resource Grade 2.5g/t
Resource Ounces 39koz
Mt Magnet Gold Mine
Capacity 1.7Mtpa
Resource 1.9Moz
Reserve 326koz
Life 4 years
Capex p.a A$1.5M
AISC A$1,320/oz
UCF* A$54M
Burbanks Treatment Plant
Capacity 180ktpa
C&M Dec 2014
Options Toll treatment
& leasing

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Kathleen Valley Gold Mine Kathleen Valley Gold Mine
Resource 163koz
Reserve 56koz
Life 1.5 years
Capex A$1.5M
AISC A$936/oz
UCF* A$27.8M
Vivien Gold Mine
Resource 184koz
Reserve 101koz
Life 3 years
Capex A$16.3M
AISC A$990/oz
UCF* A$37.1M

*Undiscounted Cash Flow @ A$1,500/oz

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Operations - Mt Magnet Gold Mine

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  • Focus on Saturn and Mars open pits in FY15

  • Saturn pit

  • 190m deep, 210m at base

  • Remaining grade 1.8g/t

  • Mined Sep 2011 - Sep 2015

  • Mars pit

  • 130m deep, 140m at base

  • Remaining grade 1.8g/t

  • Mined Sep 2011 – Aug 2015

  • Transition to Percy pit for FY16

  • Commenced Jan 2015, 35m deep

  • Average grade 1.9g/t

  • 8:1 strip ratio

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Operations - Mt Magnet Gold Mine

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Mt Magnet
Milled Tonnes & Head Grade
700,000 2.00
600,000 1.80
500,000 1.60
400,000 1.40
300,000 1.20
200,000 1.00
100,000 0.80
0 0.60
Milled Tonnes (LHS) Head Grade (RHS)
Milled Tonnes (t) Head Grade (g/t)
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Mt Magnet Gold Production & Costs

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25,000 2,000
SAG mill
22,500 1,800
repairs Ball mill
motor
20,000 1,600
17,500 1,400
15,000 1,200
12,500 1,000
10,000 800
7,500 600
5,000 400
2,500 200
- -
Fine Gold Production (oz) - LHS C1 - Cash Cost (A$/oz) - RHS AISC (A$/oz) - RHS
Costs A$/oz
Gold Production (oz)
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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Operations - Kathleen Valley Gold Mine

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  • 1[st] Sep 2014 - Acquisition completed

  • Nov 2014 - Infill drilling completed

  • Jan 2015 - Upgraded Mineral Resource:

  • 1,814,000t @ 2.8g/t for 163,000oz⁴

  • Jan 2015 - Maiden Ore Reserve:

  • 418,000t @ 4.1g/t for 56,000oz⁵

  • Jun 2015 – Mining commenced

  • Sep 2015 Qtr – Start ore haulage

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Operations - Kathleen Valley Gold Mine

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Physicals Ore Reserve
January 2015
Mine Life 1.5 years
Mineral Resource 163koz4
Ore Reserve 56koz5
Grade 4.1 g/t
Recovery 95.0%
Recovered Ounces 53koz
Financials BFS
February 2015
Up Front Capital A$1.5M
C1 Cash Cost A$925/oz
AISC A$936/oz
Total Cost (incl. Up Front) A$975/oz
Cash Flow @ A$1,400/oz A$22.7M
Cash Flow @ A$1,500/oz A$27.8M

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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Operations - Vivien Gold Mine

  • July 14 - Acquisition & approvals completed

  • Oct 14 - Updated BFS, improved financials

  • Mar 15 - Preliminary surface works started

  • May 15 – A$10M facility secured (undrawn)

  • Jun 15 - Decline commenced

  • Nov 15 – First ore mined

  • Jan 16 – Commencement of ore haulage

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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Operations - Vivien Gold Mine

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Physicals Ore Reserve
June 2014
Mine Life 3 years
Mineral Resource 184koz2
Mining Inventory 109koz3
Grade 7.6 g/t
Recovery 95.0%
Recovered Ounces 104koz
Financials Updated BFS
Oct 2014
Up Front Capital A$16.3M
C1 Cash Cost A$766/oz
Royalties A$120/oz
AISC A$990/oz
Total Cost
(incl. Up Front)
A$1,148/oz
Cash Flow @
A$1,500/oz
A$37.1M

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Operations - Vivien Gold Mine

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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Development - Blackmans Gold Project

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  • Sep 14 - Secured 100% of Blackmans ML

  • Jan 15 – High grade intersections:

  • 9m at 31.9 g/t Au

  • 25m at 7.61 g/t Au

  • 13m at 8.27 g/t Au

  • Jun 15 - Maiden Resource:

  • 490,000t @ 2.5g/t for 39,000oz

  • Sep 15 – Targeting Maiden Ore Reserve

  • 2016 – Targeting permitting approvals

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Development - Blackmans Gold Project

Physicals Resource
June 2015
Resource Tonnes 490kt
Resource Grade 2.5g/t
Resource Ounces 39koz

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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Exploration - Project Locations

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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Exploration - Mt Magnet (WA)

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  • Integrated all available geological/geochemical/geophysical datasets

  • Produce a detailed 3-D litho-structural model 1,000mbs

  • Includes integrating regional seismic transect data along the Boogardie Road (data source: Geoscience Australia)

  • 3-D distribution of known >1.0 g/t Au intersections from drilling shown on RHS in yellow below

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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Exploration - Mt Magnet (WA)

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  • 3-D inversion modelling of gravity & magnetic data

Potential for large bulk tonnage resource opportunities within felsic porphyry units

Including below the historic Milky Way pit

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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Exploration - Kathleen Valley (WA)

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Boris Zone - looking for repetitions at depth / extensions below Mossbecker pit

Cross section (through Mossbecker)

Long section (looking east)

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Ramelius Resources Limited • Diggers and Dealers - August 2015

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Exploration - Tanami JV (NT)

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  • 1,700km[2] of prospective geology

  • Earn-in 85% Tychean (ASX: TYK)

  • Within 100km;

  • Newmont’s 4.5Moz Callie Gold Mine

  • Granites Treatment Plant

  • Highland Rocks ELs grants pending

  • Initial focus has been walk-up drill target over Suplejack EL

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Exploration - Tanami JV (NT)

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  • RC drilling over Suplejack infilled to 250m centres

  • Plus 10ppb Au interface geochem anomaly sits at base of post mineralising basalt cover (60mbs)

  • extends over 2km

  • Anomaly & remains to the open

  • south within broader fold closure & WNW fault zone

  • Deeper drill testing further south → Sept 2015 Quarter

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Key Forward Strategy

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1. Focus on capital management

2. Profitable operations

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3. High margin asset discovery

  • AISC represents All-In Sustaining Costs as per the World Gold Council guidance

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Thank you

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Contact details:

  • Mark Zeptner – Managing Director

  • Phone – +61 8 9202 1127

  • Email – [email protected]

  • Website – www.rameliusresources.com.au

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Production Targets, Mineral Resources & Ore Reserves Note

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¹ All Mt Magnet Production targets are based on Ore Reserves only. For detailed information relating to Mt Magnet Mineral Resources and Ore Reserves see ASX release (RMS) 3 Sept 2014, ‘Resources and Reserves Statement’.

² For detailed information relating to Vivien Mineral Resources see ASX release (RMS) 3 Sept 2014, ‘Resources and Reserves Statement’.

³ Vivien Production Target based on Ore Reserves plus a small proportion of Inferred Mineral Resource (16% oz). For detailed information relating to Vivien Mining Inventory and Ore Reserve see ASX release (RMS) 30 May 2014, ‘Vivien Gold Mine Feasibility Completed’. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.

⁴ For detailed information relating to Kathleen Valley Mineral Resources see ASX release (RMS) 19 Jan 2015, ‘Maiden Ore Reserve boosts Kathleen Valley Gold Project’.

⁵ Kathleen Valley production target based on Ore Reserves plus a small proportion of Inferred Mineral Resource (15% oz). For detailed information relating to the Ore Reserve see ASX release (RMS) 19 Jan 2015, ‘Maiden Ore Reserve boosts Kathleen Valley Gold Project’. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.

The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Mineral Resource Statement

MINERAL RESOURCES AS AT 30 JUNE 2014 - INCLUSIVE OF RESERVES MINERAL RESOURCES AS AT 30 JUNE 2014 - INCLUSIVE OF RESERVES MINERAL RESOURCES AS AT 30 JUNE 2014 - INCLUSIVE OF RESERVES MINERAL RESOURCES AS AT 30 JUNE 2014 - INCLUSIVE OF RESERVES MINERAL RESOURCES AS AT 30 JUNE 2014 - INCLUSIVE OF RESERVES
Deposit Measured Indicated Inferred Total Resource
Tonnes
Au
Au
('000s)
g/t
Oz
Tonnes
Au
Au
('000s)
g/t
Oz
Tonnes
Au
Au
('000s)
g/t
Oz
Tonnes
Au
Au
('000s)
g/t
Oz
Galaxy
MorningStar
1,266
1.7
69,000
6,984
2.0
451,000
1,765
1.8
103,000
4,501
1.3
185,000
4
1.4
-
12,751
1.7
705,000
1,770
1.8
103,000
Total major deposits 1,266
1.7
69,000
8,749
2.0
554,000
4,505
1.3
185,000
14,520
1.7
808,000
Bartus Group
Boomer
Britannia Well
Bullocks
Eastern Jaspilite
Eclipse
Golden Stream
Hill 60
Lone Pine
O'Meara Group
Shannon
Spearmont - Galtee
Stellar
Welcome - Baxter
49
2.2
4,000
146
2.2
10,000
199
2.5
16,000
94
2.5
8,000
160
2.1
11,000
222
1.6
11,000
115
2.1
8,000
1,194
1.8
68,000
179
2.0
12,000
202
3.3
21,000
121
2.8
11,000
167
2.2
12,000
154
2.9
14,000
277
1.7
15,000
231
2.5
18,000
35
2.5
3,000
25
2.9
2,000
87
1.9
5,000
276
1.6
15,000
238
1.6
12,000
786
1.0
26,000
40
2.5
3,000
134
2.5
11,000
41
2.1
3,000
7
1.7
-
309
4.6
46,000
147
1.7
8,000
151
1.5
7,000
42
2.6
3,000
207
4.3
28,000
59
1.8
3,000
198
1.8
11,000
402
1.8
24,000
1,980
1.5
94,000
179
2.0
12,000
242
3.2
25,000
401
2.4
32,000
208
2.1
14,000
160
2.8
15,000
309
4.6
46,000
623
1.9
38,000
383
2.1
26,000
170
2.5
14,000
232
4.1
31,000
306
2.0
19,000
696
1.7
37,000
Total satellite deposits 869
2.1
60,000
3,063
2.1
204,000
2,359
2.1
161,000
6,291
2.1
425,000
Hill 50 Deeps
Morning Star Deeps
Saturn UG
St George UG
Water Tank Hill UG
279
5.5
49,000
110
4.9
17,000
932
7.0
209,000
195
4.2
26,000
149
4.2
20,000
229
6.6
49,000
396
6.4
81,000
334
5.0
53,000
1,607
2.5
127,000
42
4.0
5,000
89
4.9
14,000
1,607
6.6
339,000
528
4.7
79,000
1,607
2.5
127,000
302
4.4
42,000
318
6.1
63,000
Total UG deposits 390
5.3
66,000
1,504
6.3
304,000
2,468
3.5
280,000
4,362
4.6
650,000
WesternQueen South 104
3.6
12,000
81
3.4
9,000
185
3.5
21,000
Mt Magnet Stockpiles 113
1.1
4,000
890
0.6
17,000
-
-
1,003
0.7
21,000
Mt Magnet Total 2,638
2.3
199,000
14,310
2.4
1,091,000
9,413
2.1
635,000
26,361
2.3
1,925,000
Mossbecker
Yellow Aster/Nils D.
182
3.2
19,000
282
2.5
23,000
338
4.0
44,000
638
2.1
44,000
520
3.8
63,000
920
2.3
67,000
Kathleen Valley Total 464
2.8
42,000
976
2.8
88,000
1,440
2.8
130,000
Coogee
Vivien
31
3.6
4,000
499
8.8
141,000
65
3.3
7,000
306
4.4
43,000
96
3.4
11,000
805
7.1
184,000
Other Deposits Total 530
8.5
145,000
372
4.2
50,000
902
6.7
195,000
Total Resources 2,638
2.3
199,000
15,304
2.6
1,278,000
10,761
2.2
773,000
28,702
2.4
2,250,000
Note: Figures rounded to neares

Ramelius Resources Limited • Diggers and Dealers - August 2015

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Ore Reserve Statement

ORE RESERVE STATEMENT AS AT 30 JUNE 2014 ORE RESERVE STATEMENT AS AT 30 JUNE 2014 ORE RESERVE STATEMENT AS AT 30 JUNE 2014
Proven Probable Total Reserve
Tonnes
Au
Au
('000s)
g/t
Oz
Tonnes
Au
Au
('000s)
g/t
Oz
Tonnes
Au
Au
('000s)
g/t
Oz
Galaxy Pits
Saturn
Mars
Titan
Perseverance
Brown Hill
Morning Star Cutback
Morning Star
Satellite Pits
Boomer
Lone Pine
O'Meara
Golden Stream
Underground
Water Tank Hill
St George
Stockpiles
204
1.8
12,000
176
2.0
11,000
667
1.4
30,000
73
3.6
8,000
113
1.1
4,000
170
1.7
9,000
426
2.0
28,000
483
1.4
21,000
597
2.5
48,000
109
2.6
9,000
478
2.8
43,000
132
2.9
12,000
258
1.8
15,000
46
3.4
5,000
95
3.0
9,000
176
6.5
37,000
86
3.0
8,000
890
0.6
17,000
374
1.8
21,000
603
2.0
39,000
1,150
1.4
51,000
597
2.5
48,000
109
2.6
9,000
478
2.8
43,000
132
2.9
12,000
258
1.8
15,000
46
3.4
5,000
95
3.0
9,000
176
6.5
37,000
159
3.3
16,000
1,003
0.7
21,000
Mt Magnet Total 1,234
1.6
65,000
3,945
2.1
261,000
5,179
2.0
326,000
Vivien 400
7.9
101,000
400
7.9
101,000
Total Reserves 1,234
1.6
65,000
4,345
2.6
362,000
5,579
2.4
427,000

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For detailed information relating to Mt Magnet Ore Reserves see ASX release (RMS) 3 Sept 2014, ‘Resources and Reserves Statement’. No material change has occurred.

Note: Figures rounded to nearest 10,000 tonnes, 0.1 g/t and 1,000 ounces. Rounding errors may occur.

Pit Category Ore Reserve
t
g/t
oz
Mossbecker
Yellow Aster
Probable
Probable
321,000
4.1
42,000
97,000
4.4
14,000
Total 418,000
4.1
56,000

For detailed information relating to Kathleen Valley Mineral Resources see ASX release (RMS) 19 Jan 2015, ‘Maiden Ore Reserve boosts Kathleen Valley Gold Project’.

Ramelius Resources Limited • Diggers and Dealers - August 2015

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