Ramelius Resources Limited (RMS)

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General Information
Company Name: Ramelius Resources Limited
Stock Code: RMS
Website: www.rameliusresources.com.au
GICS Sub-Industry: Gold
Market Cap ($M): 52
Equiv. Shares (M): 469

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.115 $ 0.110 $ 0.115 $ 0.110 $ 0.110 1,413,800 $ 0.005  4.545 %

Current Broker Consensus Recommendation more
Recommendation: Strong Buy (1)
Recommendation Date: 2nd Dec 2014
Brokers Surveyed: 1

Company Overview

Business Description:
Ramelius Resources Limited (RMS) is a gold mining and production company with its primary production being focused at the Mt Magnet goldmine. RMS also holds a portfolio of other development projects in Australia and USA.

Strategy Analysis:
Ramelius Resources strategy is to establish an early revenue stream from low risk and low cost advanced projects. This has seen it commence mining at the Wattle Dam gold project in Western Australia. RMS aims to focus on discovering high return, gold focused assets in proven mineral provinces. New discoveries and acquisitions will be the main driver of growth. The company hopes to increase exploration, whilst being funded from production. RMS' main focus is on the high grade, underground Wattle Dam project, which it believes has a 1Moz potential. The company is currently mining Wattle Dam as a small open put operation. . Ramelius Resources reported a net loss of $5.73m for the half-year ended 31 December 2012. Revenues from ordinary activities were $77.47m, up 68.25% from last year. Diluted EPS was (1.7) cents compared to 5.3 cents last year. Net operating cash flow was $30.73m compared to $23.67m last year. No dividend was declared.

Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A -85.5 -23.7 -- 0.0 0.0 0.0 --
2013  A -7.5 -2.2 -- 0.0 0.0 0.0 --
2012  A 2.3 0.7 -96.5 148.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Newcrest Mining (NCM) $10,555 M -0.0429 0.0206 0.1825 24.4322 23.9395 20.2440 0.00 0.00 0.00
Northern Star Resources (NST) $1,493 M 0.2151 2.2157 0.5607 31.4214 9.7712 6.2609 1.39 2.38 4.03
OceanaGold (OGC) $792 M -- -0.4488 -0.0380 5.9467 10.7896 11.2162 1.87 0.98 0.98
OZ Minerals (OZL) $1,211 M -- -0.1408 1.4041 29.1028 33.8710 14.0890 2.51 0.65 0.65
Ramelius Resources (RMS) $52 M -- -- -- -- -- -- 0.00 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
RMS -- -- 0.54 -- 0.30
Market 0.88 16.6 1.30 2.42 1.60
Sector 0.59 12.9 0.68 2.15 2.30

Name Position Start Date
Mr Robert (Bob) Michael Kennedy Chairman 01 November 1995
Mr Michael Andrew Bohm Non-Executive Director 29 November 2012
Mr Kevin James Lines Non-Executive Director 09 April 2008

Name Position
Mark Zeptner Chief Operating Officer,Chief Executive Officer
Domenico Antonio Francese Company Secretary,Chief Finance Officer
Mr K M Seymour General Manager - Exploration 7 Business Development
Mr M C Casey General Manager - Mt Magnet Gold Project
MrTJ Blyth General Manager - Mt Magnet Gold Project

Substantial Shareholders
Holding Name
46,253,605 (10.08%) Sprott Asset Management Inc

Calendar of Events
Date Event
19 February 2016 Report (Interim)
26 January 2016 Report (Quarterly)
16 October 2015 Report (Quarterly)
25 September 2015 Report (Annual)
27 August 2015 Report (Prelim)
29 July 2015 Report (Quarterly)
16 April 2015 Report (Quarterly)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.


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