Ramelius Resources Limited (ASX:RMS): What Changed After the Edna May Sale?

Sonal Goyal

09 November 2026 06:40 PM AEDT

Ramelius Resources Limited (ASX:RMS): What Changed After the Edna May Sale?

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Key Highlights

Ramelius shares traded at $3.89, up 5.86%, during the 9 November 2026 trading session.
Gold production was 48,839 ounces at an AISC of A$2,656 per ounce for the September 2026 quarter.
The sale of Edna May was completed for A$300 million, comprising A$210 million cash and A$90 million in Forrestania shares.

Ramelius Resources Limited (ASX:RMS) shares were trading at $3.89 during the Trading session on 9 November 2026, up 5.86%. The S&P/ASX 200 index rose 0.10% to 9,029.70 and the S&P/ASX 200 Materials index gained 2.88% to 23,254.80 over the same session. Ramelius is an Australian gold producer with operations in Western Australia, including the Penny project.

Latest Development: September Quarter Report on 26 October 2026

Ramelius reported September 2026 quarter gold production of 48,839 ounces at an All-In Sustaining Cost of A$2,656 per ounce on 26 October 2026.

The company said overall production and AISC were affected by weather interruptions to haulage from Penny during September. This increased stockpiles at the mine, which are expected to be processed in the next quarter.

Cash and gold holdings were A$768 million, up from A$650 million at June 2026. Operating Cash Flow was A$186 million and underlying free cash flow was A$62 million.

Edna May Sale and FY2027 Guidance

The company completed the sale of Edna May for A$300 million. Consideration comprised A$210 million in cash and A$90 million in Forrestania shares.

Ramelius said it remains on track for full-year guidance of 205,000 to 225,000 ounces at an AISC of A$2,150 to A$2,350 per ounce.

About the Company and Business Overview

Ramelius produces gold from operations in Western Australia, including Penny and the Mt Magnet area, and it has exploration interests in the region.

Its results depend on ore grades, haulage and processing performance across its sites.

Sector Context

Weather can affect haulage and Mining schedules in Western Australia and across the sector, which is why many producers hold stockpiles to manage timing.

Gold prices rose 1.30% to USD 4,128.20 during the 9 November 2026 trading session, according to market data.

Risks and What to Watch Ahead

The release notes that the Penny stockpiles will be processed next quarter, so timing of production is a factor. Higher AISC in the quarter also affects margins if it continues.

Watch items include the December quarter production report, progress against the 205,000 to 225,000 ounce guidance and the use of sale proceeds.

Final Word

Ramelius' September quarter report shows gold output and cash balances rising over the period, alongside weather-related production timing and the completion of the Edna May sale. The report covers the quarter ended 30 September 2026.

FAQs

Q: What is Ramelius Resources' main business?

A: Ramelius is an Australian gold producer with operations in Western Australia.

Q: When was the quarterly report released?

A: The September 2026 quarterly report was released on 26 October 2026.

Q: What did Ramelius sell?

A: The company completed the sale of Edna May for A$300 million, including A$210 million cash and A$90 million in Forrestania shares.

Q: What is FY2027 guidance?

A: Guidance is 205,000 to 225,000 ounces at an AISC of A$2,150 to A$2,350 per ounce.

Q: How did Ramelius shares trade on 9 November 2026?

A: Ramelius shares were trading at $3.89, up 5.86%, during the 9 November 2026 trading session.

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