Ramelius (ASX:RMS) share price lifts on boosted resource statement

The gold miner's shares are recovering some lost ground…

| More on:
gold, gold miner, gold discovery, gold nugget, gold price,

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Shares in Ramelius Resources Limited (ASX: RMS) are edging higher today following a resource statement from the gold miner.

At the time of writing, the Ramelius share price is up 1.91% trading at $1.44. It's worth noting though, the company's share price has slipped 7% over the past week and is down 12% in a month.

Ramelius reveals FY21 resource statement

Investors are sending the Ramelius share price slightly higher after the miner's latest update to the ASX.

According to its release, Ramelius announced new estimates of mineral resources and ore reserves for the end of FY21.

The company advised that increases in mineral resources were achieved through exploration drilling and resource additions at its gold projects in Western Australia. This includes deposits at the Eridanus, Galaxy and Edna May gold mines.

As such, mineral resources are up 15% over the prior corresponding period. Ramelius highlighted the findings:

  • Estimated total mineral resources: 110 metric tonnes at 1.6 grams per tonne of gold for 5.4 metric tonnes of gold
  • Estimated total ore reserves: 17 metric tonnes at 2 grams per tonne of gold for 1.1 metric tonnes of gold

The miner reported that inferred resources dropped from 1,400 tonnes of gold to 1,200 tonnes of gold. This led the indicated category to jump to 3,800 tonnes of gold, up from 3,000 tonnes recorded in FY20.

The term 'inferred resources' refers to quantity, grade (quality) and mineral content that is estimated with a low level of confidence. An upgrade to 'indicated category' increases the level of geological knowledge and confidence of probable ore reserves.

All resources are based on combinations of reverse circulation (RC) and diamond drill holes.

About the Ramelius share price

Over the past 12 months, the Ramelius share price has lost almost 40% in value, with year-to-date down around 15%. The gold miner's share price has been treading south ever since the beginning of June.

Ramelius presides a market capitalisation of roughly $1.1 billion, with more than 814 million shares on its books.

Should you invest $1,000 in The A2 Milk Company Limited right now?

Before you buy The A2 Milk Company Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and The A2 Milk Company Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Resources Shares

Miner looking at a tablet.
Resources Shares

Up 73% since April, why Mineral Resources shares could keep charging higher

A leading expert says that Mineral Resources shares remain ‘heavily undervalued’. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Resources Shares

Guess which ASX 200 mining stock is sinking 7% following its quarterly update

Let's see how this miner performed during the third quarter.

Read more »

Miner looking at a tablet.
Resources Shares

What's the latest broker ratings on BHP shares?

There's an air of caution floating about BHP shares even with bullish ratings.

Read more »

A young African mine worker is standing with a smile in front of a large haul dump truck wearing his personal protective wear.
Resources Shares

BHP shares last traded at $50 in 2023. When will they get back there?

Let’s dig into the potential for BHP shares to rise.

Read more »

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords stock just rocketed 21% on 'exceptional' results

Investors are sending the ASX All Ords stock flying higher on Wednesday. But why?

Read more »

A mature age woman with a groovy short haircut and glasses, sits at her computer, pen in hand thinking about information she is seeing on the screen.
Resources Shares

Guess which prominent Super fund just offloaded its remaining Mineral Resources shares?

This super fund has had enough.

Read more »

Image from either construction, mining or the oil industry of a friendly worker.
Resources Shares

Broker names 10 ASX mining stocks set to outperform following Macquarie Conference

Twenty-two ASX mining companies presented at the annual Macquarie Conference last week.

Read more »

Miner holding cash which represents dividends.
Dividend Investing

Invested $8,000 in Fortescue shares 5 years ago? Guess how much passive income you've banked!

Fortescue is popular among passive income investors for paying two fully franked dividends per year, even during COVID.

Read more »