Earnings call transcript: RMS posts solid Q1 2026 cash flow as growth ramps
RMS reported strong earnings for Q1 2026, with strong cash flow and a solid start to the year. Production of 48,839 ounces was down from the previous quarter, but cash flow reached AUD 186.4 million and underlying free cash flow was AUD 62.1 million. All-in sustaining cost stood at AUD 2,656 per ounce, with a realized gold price of AUD 6,019 per ounce.
The company's all-in sustaining margin was a sector-leading 56%. Strong cash and gold reserves of AUD 768 million bolstered the company's financial flexibility. Growth projects, including the EPC contract for Mount Magnet Circuit 2 and permitting progress at Rebecca Roe, continued to advance. Management saw Dalgaranga as the main growth engine, with output from Never Never and Cue operations expected to improve.
The company remains on track for first gold from Rebecca Roe in Q4 2028. Shares were up 1.36% at $3.355.
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