Thank you, Josh. Great to be here once again. It's actually our 7th year running. Today's presentation is more of an exploration update following on from yesterday's very comprehensive exploration release. I will make a couple of brief mentions on the recently completed quarterly and also key project updates. Some forward-looking statements.
We're currently capped, or we were at June 30 at AUD 5.5 billion, with AUD 650 million in the bank, almost AUD 100 million of listed investments, which does include 11% or thereabouts of Benz Mining, and no debt. We believe representing excellent upside value for a W.A. gold company growing production beyond 500,000 oz over the next few years. As you can see here, we produced 53,500 oz in the June quarter, with the first significant contribution from Dalgaranga.
We have now fully moved beyond the low point of production from here on in. FY 2026 production totaled 192,000 oz, was within guidance. 6th year running we've achieved guidance, a tribute to the reliability of the operations team. On the map, you can see our projects with the flagship Mt Magnet hub, which is currently undergoing expansion.
The Rebecca- Roe project, east of Kalgoorlie, where we have obtained recently a clear approval pathway via the state Part V process. Got to get that right, Part V state process, for the Roe part of that project only last month. We've recently announced the sale of the Edna May hub for AUD 300 million to Forrestania Resources, with that deal expected to close in September. As a quick reminder, Ramelius has a peer-leading production growth profile of 170% over the next four years to over 500,000 oz by FY 2030.
As I've already noted, off to a solid start in FY 2026 with production guidance achieved. I would expect to be able to fully update this chart with both production ounces and all-in sustaining costs later this quarter. Noting that we do currently have 12 million ounces of resources and over 4 million ounces of reserves to work with. In line with our vision to deliver superior returns for stakeholders, in April we paid a second fully franked interim dividend of AUD 0.03 and also completed another AUD 30 million of share buybacks, taking the total bought back to over AUD 140 million, some 56% of the AUD 250 million program we announced late last year.
We will be in a blackout period for pretty much the remainder of July and most of August. We will use this time to further assess our preferred mix of dividends and buybacks, accounting for things like internal valuations and the like, also such things as recent changes to capital gains tax laws and their possible impacts. As it says at the top, we're looking to maintain returns in FY 2026 and FY 2027 at levels that we established in FY 2025 whilst we go through our expansion projects, then grow returns in FY 2028 and onwards as these projects complete and cash flows increase.
Before I talk about exploration, I have three slides to update you on our project progress. Starting at Dalgaranga, the mining ramp-up is going along very nicely. Pretty much to plan, we've made some really good progress on our projects, as well as the mining progress. On the left, you have the paste plant being constructed by GR Engineering.
We have the surface boreholes in. We're putting in the underground reticulation, recruiting the paste fill team. This is on track for a September commissioning. On the right-hand side, you have the already installed and commissioned underground pump station capable of around 90 liters a second. We have a nice new workshop for our underground contractor completed on the bottom right. At Mt Magnet, there's plenty going on there as well. We've upgraded the road from Dalgaranga to Mt Magnet such that we're capable of hauling on a daily basis approximately 2,500 tons. I will note we do plan on sealing that 65 km road in this financial year.
The expansion of the Mt Magnet camp is almost complete, virtually doubling its capacity to almost 500 rooms. In terms of the mill upgrade, which you can see on the screen, we will start to see major site works this quarter on circuit I, which is the existing circuit. We're looking forward to awarding the EPC associated with circuit II shortly, as the feed process comes to an end this month. We've had solar and battery storage in place at Mt Magnet for some time.
Recently we completed the foundations for two 7 MW wind turbines to round out a 46 MW hybrid power solution at Mt Magnet. You can see the concrete pour of those foundations in the inset. You may be interested to note that each of those foundations takes 800 cu m of concrete. On to our exploration upside at Ramelius. There is a lot of detail in yesterday's release, some 40 pages.
It does demonstrate the exceptional potential right across the portfolio. If we look at Mt Magnet, we have the production profile here just at Mt Magnet, where we note in the red circles, the low-grade material that's included in the mill schedule. We call low-grade anything below 1 g. Some people call that high-grade, but we call it low-grade. Particularly in those years from FY 2028- FY 2030. Then the project sitting on top, where we're targeting high-grade ounces with the aim of displacing those low-grade ounces in the mill schedule. It's a pretty simple strategy.
We're happy to say that we're looking at likely extensions to Cue and the Galaxy mines, and also the Gilbey's underground looks really promising. That's not even included in this mine plan at all. Let's have a closer look at each of those projects I just mentioned. At Cue, we're looking at the likelihood of not only extending Break of Day underground, but also adding Lena underground to the north, which will combine into a much more significant underground operation than was envisaged at the time we put the mine plan together back in October last year.
Even more encouraging, the deepest results below our conceptual mine design at Lena of 19.7 m at 5.7 and 9 m at 12.9 are only about 400 m below surface, but still below that design I mentioned. Suggests there's still significant upside beyond what looks like a lengthy extension to this operation. Pose the question, is Lena getting better at depth? It's certainly getting wider. The same isometric view of the same area.
Here you can see our planned drilling for FY 2027, where we're looking at depth extensions at both Lena and Break of Day, probably with a focus more so on Break of Day. We actually have been limited by drilling we could do below the pit because we've been mining the pit. That Break of Day cutback will be finished around the new year. That'll enable us to get in and drill more efficiently, those depth extensions. We haven't given up on Break of Day at all. We do have one recent result there of four meters at four grams, well below our current design, which does suggest that it continues also.
At Galaxy, not far from the Mt Magnet mill, we've significantly extended the mine life here after a year of pretty much unstopped drilling. With two rigs, one on each of the Mars and Saturn ore bodies, utilizing underground drill positions that were established specifically for drilling. We punched in a lot of meters this year. We've basically extended what was a three-year mine life to something well beyond FY 2030. It's also important to note, whilst it looks like the strike length of the Saturn ore body reduces at depth, that's just a drilling effect.
We basically drilled straight down and we believe, or the geos believe, that once we put those drill fans in that you can see in FY 2027, that the strike length and the [ozpvm] will increase in line with that. Over at the Eridanus area, at Mt Magnet still, where we have scheduled to start the Eridanus cutback in November. This cutback will produce some 18 million tons of lower grade feed over a five-year basis, forming really the base load for the mill on a long-term basis. There is more potential to the north at a place called Franks Tower, and whilst this area is in porphyry granodiorite as opposed to banded irons, which is featured at Galaxy.
The grades in the granodiorite typically average, like Eridanus, 1.5 g. There is potential for higher grades, as we've seen at recent drilling at Franks Tower, where we've got 3.6 m at 113 within the pit design. Probably more importantly, 14.8 m at 54 g, well below that pit design. Out at Dalgaranga, similar to Galaxy, we've had two underground drill rigs drilling away for the bulk of the year. Generally, they've been focused on the Gilbey's area below the historic Gilbey's pit.
From time to time, we've swung one of the rigs over to the Never Never area and carried out infill or more or less grade control drilling ahead of mining. We've never been let down by basically stellar results from that infill drilling. I won't call them out, but you can take my word for it, they're all excellent results. At Gilbey's itself, we have almost 600,000 oz when you combine the existing resource with the exploration target.
The plan is to convert all of that over the next 12 months. Whilst the grade will be lower than Never Never and Pepper, this potential underground operation will be an excellent incremental addition to the main game at Never Never. Last but not least, we are drilling for underground potential out at Rebecca- Roe. Specifically the Rebecca, the Duchess, and here at Duke. We have 1.1 million ounces in reserves at Rebecca- Roe, other than the Bombora underground, generally, they all derive from open pits. We're encouraged by the potential for underground extensions to those pits. Typically, numbers like 24 m at 3.2 g are what's giving us that encouragement.
We haven't given up on Rebecca- Roe in terms of exploration. Obviously, Mt Magnet and Dalgaranga and Cue get all the attention. To wrap up as to why we think Ramelius is such a good value investment, especially at its very low current P/NAV. We are a very reliable and consistent operator. Six years of achieving guidance is a testimony to that. We do have high margin, long life assets at Mt Magnet, and we also believe at Rebecca- Roe. We are both paying fully franked dividends and buying back shares, generally at levels above our peer group.
We have one of the best production growth profiles in the sector. As I've gone through, we have committed another AUD 100 million, doubling down on our exploration budget from FY 2026 to fast-track the drilling of what we believe are high quality, high grade targets. Thank you