Regis Resources Limited
Regis Resources Limited
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Increased Mar 2019 qtr (Q3 19) gold production to 91,087oz from Q2 19’s 90,487oz at Regis Resources’ Duketon Gold Project, 350km NE of Kalgoorlie in Western Australia, has the company heading for the top end of 340,000oz-370,000oz FY2019 guidance.
The Q3 19 increase was at pre-royalty cash costs up slightly to $A767oz from $765oz and AISC to $1,019oz from $985oz, with cash flow from operations up to $89.3M from $76.4M.
A new study has flagged increased ore tonnes, grade and gold production at lower costs and a longer LoM from increased resources at Regis Resources’ Rosemont underground operations, part of its Duketon Gold Project in the Western Australia goldfields. 1st ore is expected from Rosemount in the Sept 2019 qtr and 1st production tonnes in the Mar 2020 qtr.
A bundle of new, improved numbers and resources/reserves have combined to increase gold prodn and cut costs at Regis Resources’ new Rosemount underground operation. By Mark Mentiplay
Regis Resources has seen its Dec 2019 half (H1 19) net profit after tax slide 6% on H1 18 to $A79.85M, despite increased gold sales, revenue and net cash flow.
Regis Resources MD Jim Beyer is confident the West Australian miner will achieve the mid-to-upper end of its FY19 guidance after the Duketon gold project 350km NE of Kalgoorlie produced 90,487oz with AISC at the lower end forecast at $A985/oz in the Dec qtr (Q2), from 90,879oz at $923/oz in Q1.
Guidance remains 340,000-370,000oz at $985-1,055/oz.
Cash and bullion at end-Dec was $206.7M ($190M).
Australian producer Regis Resources’ underground growth strategy at its Duketon gold project in the WA Goldfields is advancing with the award of a $A113M, 3-year development and production contract to Barminco.
The underground development, directly below the current Rosemont openpit, is targeting a maiden resource of 1.4Mt @ 5.1g/t for 230,000oz.
MD Jim Beyer says Rosemont’s initial underground development provides an excellent platform for growth through exploration from an established underground footprint.
Mining services company Ausdrill’s late-2018 acquisition of underground contractor Barminco has delivered early results with the award of a $A113M, 3-year contract at Regis Resources' Rosemont gold project in the WA Goldfields.
Barminco will undertake development and production work on the new underground mine beneath the Rosemont openpit. Onsite work will begin in the March qtr.
A steady Sept 2018 qtr (Q1 19) from Regis Resources’ Duketon Gold Project in Western Australia has seen production ease to 90,879oz from Q4 18’s 92,008oz with cash costs up, but AISC down to $A923oz from $982oz on stripping ratio down to 4.4 from 7.0.
Gold miner Regis Resources has dropped its 11.4cps board-backed takeover bid for fellow Western Australia developer Capricorn Metals launched on Sept 24, 2018.
A single, major Capricorn Metals shareholder has thwarted Regis Resources’ takeover bid for the gold developer. By Mark Mentiplay