Mt Magnet

Ramelius' flagship gold operation in the Murchison region of Western Australia. The complex comprises multiple open-pit and underground deposits within an 8km radius of the Checkers processing facility, with deposits including Morning Star, Eridanus, Hesperus, Galaxy UG, Bartus, Boomer, Brown Hill, Bullocks, Hill 50 Deeps, and others. FY25 production was a record 248,108oz at AISC of A$1,314/oz (FY24: 160,765oz @ A$1,313/oz). Mt Magnet hosts the hub mill (Checkers) that processes ore from satellite mines at Cue (40km haul) and Penny (160km haul). A new 17-year, 2.1Moz mine plan released in March 2025 underpins long mine life, with maiden Ore Reserve for the Eridanus pit cutback (18Mt @ 1.2g/t for 680koz) included. Plant upgrade to 3.0Mtpa is being reassessed under Mt Magnet & Dalgaranga Integration Studies (5.0Mtpa combined possible). FY26 exploration spend ~A$80-100M across the group, with focus areas including Mt Magnet (Galaxy and Eridanus).