Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Regis Resources (RRL) achieves a record total gold production from its Duketon and Tropicana projects for the June quarter and FY22
  • Production lifted by 20 per cent over the quarter, resulting in a new record of 123,900 ounces of gold produced
  • In addition, full-year production climbed 17 per cent to 437,000 ounces which is in line with its production guidance for the financial year
  • Regis Resources expects to release its June quarter report later this month
  • Shares in the company are up 6.9 per cent to trade at $1.55 at 10:37 am AEST

Regis Resources (RRL) has reported record total gold production from its Duketon and Tropicana projects for the June quarter and FY22.

Group production lifted by 20 per cent over the quarter, resulting in a new quarterly record of 123,900 ounces of gold produced.

In addition, the company successfully achieved its production guidance for the 2022 financial year, with a 17 per climb from the previous year to 437,000 ounces.

However, due to inflationary pressures, costs are expected to land at the top end of its guidance of between $1425 to $1500 per ounce in all-in sustaining costs.

The improvement in production has resulted in a jump in Regis’ cash and bullion balance from $60 million to $227 million at the end of June.

Managing Director Jim Beyer said he expects gold production to lift further in FY23.

“We are very pleased to deliver a record quarter of gold production for the June 2022 quarter,” he said.

“We have seen reliable delivery on our improvement plans that were developed and implemented to address the operational challenges we experienced in the first half of the year.

“This has seen the company deliver an improved performance despite the challenging external conditions.”

Regis Resources expects to release its June quarter report later this month.

Shares in the company were up 6.9 per cent to trade at $1.55 at 10:37 am AEST.

RRL by the numbers
More From The Market Herald
The Market Herald Video

" Woomera Mining (ASX:WML) appoints Jason Livingstone as new Managing Director

Mineral explorer Woomera Mining (ASX:WML) has appointed Jason Livingstone as its new Managing Director, effective from…
The Market Herald Video

" Security Matters (ASX:SMX) enters into $2m standby equity facility

Security Matters (ASX:SMX) has entered into a standby equity deed with Evolution Capital.
The Market Herald Video

" Ora Gold (ASX:OAU) obtains unsecured $500k loan facility

Ora Gold (ASX:OAU) has obtained an unsecured $500,000 loan facility from Ioma to assist with general…
Baby Bunting (ASX:BBN) - Chair and Non Executive Director, Melanie Wilson

" Baby Bunting (ASX:BBN) surpasses $500m sales for the first time

Baby goods retailer Baby Bunting (ASX:BBN) surpasses half a billion dollars in sales for the first…