Regis Resources Limited
Regis Resources Limited
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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
Gold developer Capricorn Metals has confirmed an all-share, A11.4cps takeover bid from fellow Western Australia gold miner Regis Resources.
Capricorn says it has received a confidential, non-binding, indicative acquisition proposal at a price around 93% better than Capricorn’s closing share price on Sept 21. The proposal, which has received unanimous support from the Capricorn board, is still subject to a number of conditions, precluding it being put to shareholders.
Australian miner Regis is targeting the start of portal development in the March 2019 qtr after approving the $A29.4M development of an underground mine directly below the current Rosemont openpit at its Duketon operations near Laverton in WA.
The underground operation is expected to deliver 214,000oz gold at total operating costs of $A1,154/oz on current resources.
The first underground ore for processing is expected in the Dec 2019 qtr.
Mining, contracting and civil contractor MACA will have up to another decade on site at the Duketon South operations near Laverton in Western Australia with the award of a contract extension by Regis Resources.
The 5+5 year extension covers openpit mining, drilling and blasting, loading and haulage at Duketon South's Rosemont, Garden Well, Erlistoun, Baneygo, Toohey’s Well minesites plus future satellite projects.