A record operating cash flow of $475 million has marked the end of a strong financial year for Regis Resources.
Now hedge free and fully leveraged to the gold price, Regis saw an underlying earnings before interest, taxes, depreciation and amortisation of $421 million at a margin of 33 per cent.
The company spent $296 million on future growth across the business, but still managed to see a record cash and bullion amount of $295 million.
As of June 30, Regis’ debt position stands at $5 million.
“Our timing on closing the hedge book has also delivered additional value,” Regis managing director and chief executive officer Jim Beyer said.
“Regis has delivered record financial outcomes which demonstrates the profitability and cash generation capability of our business. We look forward to continuing this into the future.”
Other highlights from the year included Regis approving the development of Garden Well Main and Rosemont Stage 3
underground mines.
“Over the year our people have continued to remain focused on delivering on our objective of producing safe and profitable ounces in a sustainable manner with our performance reflecting their dedication and commitment to this objective,” Beyer said.
The record numbers follow the announcement that Regis met last year’s production and cost guidance.
“We do what we say we’re going to do,” Beyer said. “We continue to identify and test for more undergrounds.”
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