Regis Resources Limited
Regis Resources Limited
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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.
Heavy rainfall and the impact of wet oxide ore on plant throughput have slowed the progress of Australian miner Regis Resources in the March 2013 quarter.
After a strong start in the December quarter at the Garden Well mine, part of its Duketon project in the Laverton region of Western Australia, Regis had to contend with two major rainfall periods in the March quarter – the first due to cyclone Rusty in late February plus further heavy rain in March.
Just 3 months of gold production from its new Garden Well mine in the Laverton region of Western Australia has enabled Regis Resources to more than double revenue and lifted after-tax profit by 73% to $A66.1M for the December half year.
Garden Well, a blind virgin discovery within the company’s Duketon Gold Project 350km NE of Kalgoorlie, began operations in September 2012 and had produced 68,689oz by the end of the year. Its December quarter cash cost of production was $A496/oz.
A 655,000oz gold resource upgrade at the Rosemount Gold Project in Western Australia has lifted indicated/inferred JORC resources there to 33.2 Mt at 1.62g/t for 1.73Moz and underpinned the Sept 2013 qtr start up of production expected to ramp up to 80,000oz pa over at least 8 years.