Record gold sales for Regis amid consolidation

Despite a year of consolidation, Regis Resources made record gold sales of $1.016 billion from 439,310 ounces of gold, sold at an average price of $2312/oz.

EBITDA of $336 million was recorded and a final fully franked dividend of 2 cents per share declared, bringing total dividends issued since 2013 to $547m.

Record gold production was achieved for FY22 of 437,000 oz at an AISC of $1556/oz.

Regis managing director Jim Beyer said FY22 was marked by heavy investment at both Tropicana and Duketon in Western Australia, to set the company up for its growing production and cash flow profile.

“The financial performance was also significantly impacted by a combination of the ongoing impacts of COVID and inflationary cost pressures, in particular during the second half of the financial year,” he said.

“The considerable investments made in FY22 across both mining and processing positions the company to further increase production and operating cash flow going forward.

“In FY23, underground production at Duketon will increase with commissioning of the Garden Well South underground operation, while at Tropicana, completion of the Havana cutback will expose higher grade open pit ore.”

Beyer said implementation of the ESG strategy saw good progress with the safety record remaining more than 40 per cent below industry average, gender diversity remaining above industry average and approval of a 9MW solar farm installation at Duketon, which will reduce carbon emission and costs once commissioned.

FY23 guidance has been set at 450-500koz at an AISC of $1525-$1625/oz.

Editor of industrial titles and mastheads with Prime Creative Media. Publications include Rail Express and Australian Mining (web content).
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