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FINALIST: MINER

Ramelius focused on

long-term rewards

by Michael Washbourne

amelius Resources Ltd managing director Mark Zeptner “It’s a little further out than maybe people would have been
Rhas hinted the company will likely pick up another operating looking for because it’s a lot earlier stage than any of the other
asset before its latest purchase is ready to start producing gold acquisitions we’ve made since 2017,” Zeptner told GMJ.
bars. “This is more of an advanced exploration play. There’s resources
On the back of another record year of production from Mt but there’s no reserves or definitive mining study, which typically
Magnet and Edna May, Ramelius announced in October it was our previous acquisitions have been. There’s probably a 6-12
acquiring revered explorer Apollo Consolidated Ltd for $128 month drill-out and further resource expansion on the front end
million via a cash-and-scrip deal. The offer was later upsized of this. It will probably end up being the fourth hub we talk about
to $181 million after fellow producer Gold Road Resources Ltd in our portfolio.
mastered a competing bid for the target. “We don’t want to close off and give people the sense that ‘OK,
The grand prize for Ramelius was Apollo’s 1.1 moz Lake we’re done now, this is our third hub’. I think we’ve retained
Rebecca project, 150km east of Kalgoorlie. It was the company’s enough firepower on our balance sheet such that, for the right
fifth major acquisition since 2017. opportunity, we can slot a third production centre in between
Lake Rebecca is far less advanced than the likes of Marda, now and that production go-date on a project such as Lake
Tampia and Penny – all were essentially ready to be developed Rebecca, which we think can become a production centre. It’s
at the time of acquisition – and for that reason, Zeptner said just the timing of it is a little further out.”
the company had taken the view the project would more likely Also, unlike the company’s previous acquisitions, Lake Rebecca
become its fourth production centre rather than the long coveted does not have a natural processing solution. Marda and Tampia
third. have successfully been integrated into the production profile at

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