FINWIRES · TerminalLIVE
FINWIRES

Ramelius Resources on Track to Achieve Midpoint of Fiscal Year 2026 Production Guidance, Euroz Hartleys Says

By

-- Ramelius Resources (ASX:RMS) might be able to achieve the midpoint of its fiscal year 2026 production guidance due to stockpiles at its Dalgaranga and Penny gold operations, Euroz Hartleys said in a Wednesday note.

The company released its March quarter report, with production falling from the previous quarter due to haul road closures and heavy rainfall. It maintained fiscal year 2026 production guidance at 185,000 to 205,000 ounces.

Euroz Hartleys forecasts June quarter production of roughly 55,000 ounces at an all-in sustaining cost of around AU$2,200 per ounce.

"We remain excited for the ramp up of Dalgaranga with first ore one month ahead of schedule," the equity research firm said, adding that a ball mill drive train upgrade will allow a finer grind for the Dalgaranga ore, improving recoveries to above 90% from around 80%. It also pointed to an opportunity for Ramelius Resources to displace low-grade stockpiles with higher-grade mined ore from fiscal year 2028 to fiscal year 2030.

Euroz Hartleys maintained a buy recommendation on Ramelius Resources and lowered its price target to AU$5.27 per share from AU$6.21, mainly due to a lower spot gold price.

Shares of Ramelius fell 5% in recent Thursday trade.

Related Articles

Equities

Elevate Uranium Confirms High-Grade Uranium Mineralization at Northern Territory Project; Shares Down 5%

Elevate Uranium (ASX:EL8) said it encountered high-grade uranium mineralization during a recent drilling at its Angela uranium project in the Northern Territory of Australia, according to a Thursday Australian bourse filing.The results were up to 2.3 meters at 508 parts per million uranium oxide, including 0.4 meters at 1,363 parts per million uranium oxide.The program improved the understanding of the seismic to oxidation boundary relationship at Angela, confirming that seismic remains a valid targeting tool and providing a framework for future activities, the filing added.The company's shares fell nearly 5% in recent Thursday trade.

$ASX:EL8
Asia

Yum China's Net Income Rises 6% in Q1

Yum China (HKG:9987) posted net income of $309 million for the first quarter, up 6% from $292 million a year earlier, according to a Wednesday Hong Kong bourse filing.Earnings per share came in at $0.87 from $0.77 a year earlier.Revenue increased 10% to $3.27 billion from $2.98 billion in the prior-year period.The restaurant operator said it targets a total of over 20,000 stores in 2026, with more than 1,900 net new stores and a 40% to 50% franchise mix for new KFC and Pizza Hut outlets.Capital expenditure is expected to be about $600 million to $700 million, with $1.5 billion planned for shareholder returns.

$HKG:9987
Asia

Welspun Enterprises Bags INR73 Billion Highway Development Project

Infrastructure developer Welspun Enterprises (NSE:WELENT, BOM:532553) has secured an order worth 73 billion Indian rupees from Maharashtra State Infrastructure Development Corporation, according to a Thursday filing to the Indian stock exchanges.The contract is for the construction of a six-lane partially elevated highway corridor along with the improvement of the existing road in the Pune to Shirur section of the national highway in the State of Maharashtra.The project has a sub-concession period of 29 years, including a construction period of four years.With this, the company's outstanding order book has increased to 187.6 billion rupees.The company's shares were down over 1% in recent trade.

$BOM:532553$NSE:WELENT