Australia's Ramelius Resources extends losses on Mt Magnet mill costs blowout

Ramelius Resources

12/03/2025 24:27

** Shares of Australia's Ramelius Resources RMS.AX extend losses to fall 10.4%

** Stock last trading at A$2.07

** Gold miner slumped over 17% on Tuesday after it released its long-term mining and growth plans

** Investors sold-off after noting the A$95 mln ($59.79 mln) in upgrade costs warned

** RMS said additional costs were to increase throughput up to 3 million tons per annum capacity at its Mt Magnet mill in Western Austalia

** Drop in RMS against a 0.4% rise in gold stocks .AXGD

** Stock down 4.1% YTD

($1 = 1.5888 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com))