Regis Resources Limited
Regis Resources Limited
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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.
Regis Resources has topped the June 2018 year (FY18) with record gold production of 361,373oz from FY17’s 324,000oz and a record Q4 18 92,008oz on the previous qtr’s 85,000oz from its Duketon Gold Project in Western Australia.
The FY18 result, at the top end of the 335,000oz-365,000oz guidance, was on ore mined slipping to 10.56Mt from 10.85Mt, but milled ore up to 10.04Mt from 9.78Mt, as was head grade to 1.19g/t from 1.11g/t and recovery to 94% from 93%.
Regis Resources reported record NPAT of $A84.6M for the Dec half (H1FY18), up from $61M in H1FY17 on record gold production from its Duketon operations in Western Australia of 184,034oz (H1FY17: 154,702oz) at AISC of $858/oz ($949/oz).
Revenue rose 18% to $299M from the sale of 183,846oz (H1FY17: 144,699oz) at $1,641/oz ($1,742/oz).
EBITDA improved 35% to $153.1M and EBITDA margin rose from 45% to 51%.
Cash and bullion increased 13% to $172M.
Australian gold producer Regis has maintained higher production at its Duketon gold project in WA into the Sept qtr (Q1 FY18), with output for the 3 months of 91,921oz (Q4 FY17: 90,428oz) at AISC of $A861/oz ($870/oz).
Regis says it's at the top end of FY18 guidance of 335,000-365,000oz and AISC below the bottom of its forecast.
Australian miner Regis has established a 2Moz maiden ore reserve as it works towards a Dec qtr 2018 construction start and Dec qtr 2019 first production at its McPhillamys gold project 30km east of Bathurst in NSW.
The reserve of 60.1Mt @ 1.05g/t for 2,034,000oz gold was estimated as part of a PFS that outlines a robust $A215M development expected to produce 192,000ozpa at AISC of $990/oz over 9 years.
Regis proposes a traditional simple truck and shovel openpit operation with CIL processing.
The introduction of higher grade satellite Duketon Gold Project ore feed in Western Australia has helped Regis Resources lift June 2017 year (FY17) production 6% on the previous year to a record 324,353oz.
The result lifted the company’s profit after tax 24% to $A138.2M, largely the result of a 6% increase in the delivered gold price to $1,691oz.
Australian gold producer Regis is predicting a further 7% increase in production at its Duketon operations in Western Australia after the supply of higher-grade satellite mill feed helped it produce a record 324,353oz in the year to end-June (FY17). AISC of $A945/oz was well below the lower end of its guidance.
Regis expects its strong base will enable it to lift gold production to 335,000-365,000oz at $950-1,010/oz.
The company increased cash and bullion to $151.7M.
Australian miner Regis has secured 2 long-term water supply options as it completes a DFS in the Dec qtr on its 100%-owned McPhillamys gold project 30km east of Bathurst in NSW.
Regis signed non-binding HOA over water from the Mt Piper power station and Springvale mine near Lithgow and secured groundwater allocations in the Lachlan catchment, both about 80km from McPhillamys. Each could meet process water needs for a 7Mtpa project.
West Australian miner Regis expects to add another 4 years of supplementary mill feed to its Garden Well processing plant at the Duketon gold project after establishing a 366,000oz (7.1Mt @ 1.61g/t) maiden ore reserve for the Tooheys Well deposit.
Tooheys Well, 2.5km from the plant, is expected to deliver 90,000oz pa and add 30,000oz pa to Regis Duketon production due to its higher grade compared to the Garden Well ore it replaces.
Exec chairman Mark Clark says it demonstrates the excellent organic growth potential from aggressive exploration of the Duketon greenstone belts.
Heavy rains that cost 18.5 days of mining operations at its two main openpits and closed haul roads from satellite pits for a total of 24 days wasn't sufficient to prevent Regis reaching the upper end of its guidance, for the March quarter (Q3FY17).