Ramelius Resources swings to statutory loss on Spartan buyout costs

The news: Gold miner Ramelius Resources swung to a statutory net loss of $11.7 million in the first half, dragged down by $131 million in transaction costs relating to its buyout of Spartan Resources.

On an underlying basis, net profit rose 13% year on year to $347.7 million.

Gold sales fell 30% to 100,304 ounces, partly due to its Edna May site being placed into care and maintenance, but the group’s realised gold price surged 36% to $4,822 per ounce.

Ramelius declared an interimim dividend of 3 cents per share, flat with a year earlier.