Investor Presentaiton
A$ per ounce
AISC FORECAST - DELIVERING ON INCREASED MARGINS
3,000
2,800
2,600
2,400
2,200
10 Year AISC margin
Guidance#
48%
41%
27%
A$1,129/oz A$1,373/oz
2,000
1,800
37%
42%
1,600
42%
1,400
28%
28%
29%
31%
1,200
1,000
2016
2017
2018
2019
2020
■AISC
2021
2022
2023
2024(F)#
2025(F)#
Gold price
FY23 group gold production
240,996oz at AISC A$1,895/oz
AISC expected to reduce as commercial
levels of production from Penny are
sustained into FY24
AISC margins are forecast to expand in
both FY24 & 25
FY24 group gold production Guidance
250-275koz at AISC A$1,550 - 1,750/oz
➤ FY24 capital/development expenditure
A$50 - 60M
RAMELIUS
RESOURCES
#The AISC Guidance is based on the mid-point of the Guidance ranges, from RMS ASX Release "June 2023 Quarterly Activities Report",
27 July 2023 for 2024(F)# and from RMS ASX Release "3 Year Production Outlook & Study Update", 14 November 2022 for 2025(F)#.
The gold price is based on the forward gold sales book as at 30 June 2023 and a spot price of A$2,880/oz.
MACQUARIE WESTERN AUSTRALIA FORUM NOVEMBER 2023
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