Regis Resources Limited
Regis Resources Limited
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Regis Resources reported continuing gold recovery and reconciliation issues at its Garden Well mine contributed to a 3% fall in production and higher costs in the September quarter.
The Australian miner's Q1 output was 69,878oz at a cash cost of $A701/oz, compared to 72,134oz at $668/oz in the June quarter.
Garden Well contributed 44,475oz at $755/oz (46,103oz at $718/oz) while Moolart Well produced 25,403oz at $605/oz (26,031oz at $580/oz).
They will be joined in the December quarter by the Rosemont mine, which began commissioning this month.
Gold recovery and reconciliation issues impact quarterly production at Duketon Gold Project. John Feary reports
Western Australian gold miner Regis Resources has more than doubled its FY 2013 after tax profit to $A145.7M on sales up 144% to $416.1M, but with higher cash operating costs.
The company sold 253,000oz of the 269,013oz production from its greater Duketon Gold Project in the Laverton region, up from the previous year’s sales of 107,093oz and is expecting the project to produce between 333,000oz-368,000oz in FY 2014.
Regis declared a maiden div of 15cps fully franked
Everything up, including the cash costs, as Western Australian Regis Resources more than doubles sales and profit on it targets near 370,000oz in 2014.
Alkane Resources will apply the lessons it learned in the discovery and evaluation of the McPhillamys gold project in Australia under a new exploration farm-in agreement.
The Australian explorer/developer has been searching for similar deposits in the Central West of New South Wales since the sale of the McPhillamys joint venture (with Newmont Australia) to Regis Resources 12 months ago.
12 months after it sold the original 3Moz McPhillamys project, explorer/developer Alkane is applying its expertise to the search for more gold deposits in the same style
Regis Resources has achieved record performance by the Moolart Well gold mine at Duketon, Western Australia to help lift total production to 269,013oz at a cash cost of $A562/oz for the year ending June 2013.
Moolart Well contributed 105,753oz at $563/oz and Garden Well 163,260oz at $562/oz (pre-royalty).
Rosemont will become the third Duketon producer in September with completion of the $50M crushing and grinding circuit, to be followed immediately followed by the $20M development of a new processing plant.
Australian gold miner confirms plans for a maiden dividend but trims the likely amount due to the gold price decline
Regis Resources has updated the resources and reserves ahead of the planned expansion of its Garden Well gold project in Western Australia’s Laverton region.
JORC resources at Garden Well now total 86.5Mt at 1.1g/t gold for 3Moz, up from 2.29Moz previously.
Reserves have been lifted to 41.7Mt at 1.27g/t gold for 1.7Moz from 1.39Moz.
Regis has committed to a stage 2 plant expansion which will lift combined mill throughput from the Garden Well and Rosemont projects from 6.5Mtpa to 7.5-8Mtpa.
Martin Shefsky will resume his former role as president and CEO of Canadian explorer Northern Gold Mining following the resignation of Greg Gibson from both positions.
Shefsky held the same positions from 2006 to July last year, and remained as a director.
A founder of Regis Resources, he has extensive experience in development, sales and marketing in commercial areas from resource exploration, financial consulting, stock trading and portfolio management.