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): 38
Equiv. Shares (M): 366

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 0.110 $ 0.105 $ 0.110 $ 0.105 $ 0.105 670,340 $ 0.005  4.762 %

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 (%)
2015  F -8.5 -2.3 -- -- -- 0.0 --
2014  F -16.4 -4.6 -- -- -- 0.0 --
2013  A -7.5 -2.2 -414.3 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F 2013 A 2014 F 2015 F
Newcrest Mining (NCM) $7,680 M -0.5837 -0.1109 0.2229 17.0148 19.1367 15.6489 0.0120 0.0000 0.0000
OceanaGold (OGC) $703 M -- -- -0.0580 -- 10.1961 10.8233 0.0000 0.0000 0.0000
OZ Minerals (OZL) $1,126 M -- -- 13.7556 -- 824.4444 55.8735 0.0539 0.0304 0.0181
Ramelius Resources (RMS) $40 M -- -- -- -- -- -- 0.0000 0.0000 0.0000
Regis Resources (RRL) $1,174 M 0.9835 -0.5603 1.0219 7.8047 17.7492 8.7785 0.0638 0.0401 0.0686

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
RMS 3.00 -- 0.23 10.00 0.26
Market 1.07 16.0 1.27 1.98 1.72
Sector 0.87 12.5 0.66 0.73 4.83

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

Management
Name Position
Mark Zeptner Chief Operating Officer
Mark Zeptner Chief Operating Officer
Domenico Antonio Francese Company Secretary,Chief Finance Officer
Kevin Mark Seymour General Manager, Exploration & Business Development
Mike Casey General Manager, Mt Magnet
Antony Webb Process Manager, Burbanks

Substantial Shareholders
Holding Name
23,947,605 (7.09%) Sprott Asset Management Inc

Calendar of Events
Date Event
16 April 2015 Report (Quarterly)
19 February 2015 Report (Interim)
29 January 2015 Report (Quarterly)
17 October 2014 Report (Annual)
17 October 2014 Report (Quarterly)
22 August 2014 Report (Prelim)
30 July 2014 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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