Ramelius Resources (RMS) AGM 2024 summary

Opening remarks and agenda

• The meeting opened with safety instructions, acknowledgment of traditional landowners, and introductions of the board, executive team, and meeting procedures for both in-person and online attendees.

• Managing Director Mark Zeptner led the AGM in November 2024, outlining the agenda and key focus areas.

Financial performance review

• Achieved record FY24 gold production of 293,033oz at an AISC of A$1,583/oz, with FY25 guidance of 270,000–300,000oz at AISC A$1,500–1,700/oz.

• Underlying free cash flow reached A$315.8M, with total shareholder returns of A$22.3M including dividends.

• Revenue for FY24 was A$882.6M, with underlying NPAT of A$200.3M and closing cash & gold of A$446.6M.

• Peer-leading free cash flow per ounce produced at A$1,078/oz, outperforming major industry peers.

• Maintained profitability for 10 consecutive years, with increasing dividends and strong margins.

Board and executive committee updates

• COO Duncan Coutts announced his departure after nine years, with Peter Ruzicka introduced as his successor.

• Board chaired by Bob Vassie, with Mark Zeptner as Managing Director and a refreshed executive team including Peter Ganza (Acting COO) and Darren Millman (CFO).