Sydney, June 9, 2026, 08:02 (AEST)
- Ramelius closed Friday at A$3.05, off 3.17%. The ASX cash market was closed Monday for King’s Birthday.
- Deputy Chair Simon Lawson quit effective June 5. The board composition is under focus again ahead of the return to trading.
- Gold was little changed Monday, holding above its lowest since March 23 ahead of U.S. inflation data expected later this week.
Ramelius Resources is set to resume trading on the ASX on Tuesday, with the stock coming back after a selloff on Friday. A board exit and weaker Australian gold shares are adding pressure. The cash market was still in pre-open when this was written; normal trade kicks off just before 10 a.m. Sydney time.
Ramelius Resources closed at A$3.05 on June 5, sliding 3.17% on the day. The gold miner was off 5.28% for the week and had dropped 10.82% over four weeks, even as it keeps telling investors it expects to hit its full-year production goals.
ASX traders didn’t get to react to the bullion swings Monday with the local market shut for the holiday. The S&P/ASX 200 last traded down 0.70% at 8,625.10 on Friday, ending the week 1.2% lower. Among gold names, Evolution Mining slid 3.06% and Westgold Resources was off 4.12%.
Gold held at $4,334.22 an ounce on Monday, after dropping to its lowest since March 23. Reuters said strong U.S. jobs numbers raised the chance of a Federal Reserve rate hike. Investors are waiting on U.S. CPI and PPI inflation reports set for Wednesday and Thursday. Gold does not pay interest, and higher rates can weigh on the metal.
Gold came off session lows after some reports of a possible new ceasefire between Iran and Israel, Peter Grant, vice president and senior metals strategist at Zaner Metals, told Reuters. “So that’s taken a little bit of pressure off the downside,” he said. Reuters
Ramelius said Friday that Lawson is stepping down as deputy chair and non-executive director to pursue other interests. Chair Bob Vassie credited Lawson with the “seamless integration of Spartan” and said Lawson supported the company’s exploration push. Lawson said getting Spartan integrated and starting underground development at Dalgaranga showed the “quality of the combined business.”
Ramelius said the board will look at its makeup first, then decide if it needs to look for another non-executive director. The company tied the move to its goal of producing 500,000 ounces a year by fiscal 2030.
First Sentier Group is now a substantial holder in Ramelius, a new filing shows. The group and connected firms had 95.63 million ordinary shares, or 5.04% voting power, after crossing the threshold on June 2. The notice also disclosed Mitsubishi UFJ Financial Group’s indirect stake via First Sentier.
Ramelius says its operational story is the same as at its last update. In April, the miner reported March-quarter gold production of 38,093 ounces and kept fiscal 2026 guidance at 185,000 to 205,000 ounces. The company expects a strong June quarter. Managing Director Mark Zeptner said Ramelius is still on track for the midpoint of the range, with Dalgaranga and Cue set for “significant contributions” in the final quarter.
Dalgaranga is still the bigger growth bet. Ramelius said drilling at Gilbey’s Underground in April turned up high grades and suggested there could be another underground mine next to Never Never. Executive General Manager Exploration Peter Ruzicka said the Dalgaranga system keeps delivering high grade as “a consistent feature.”
Risks are stacking up. Ramelius raised its fiscal 2026 all-in sustaining cost guidance to A$1,900-A$2,050 an ounce, up from A$1,700-A$1,900. The company cited higher diesel, increased royalties linked to gold prices, and cost reclassification at Never Never. The U.S. dollar staying strong and ongoing rate concerns also cloud the outlook for bullion.
Ahead this week, traders will be watching if buyers hold A$3.05 after the holiday. Then focus is likely to shift back to the June-quarter delivery, the board review, the latest U.S. inflation data, and whether gold miners keep trading together as one crowded rate-sensitive trade.
