Regis Resources achieves record gold production for June quarter, banks $243m in gold and bullion

Regis Resources has narrowly met the bottom end of its production guidance to achieve record gold production in financial year 2023. In a brief update published to the Australian Securities Exchange on Friday, Regis said it had achieved gold production for the June quarter was 122,479 ounces, of which about 73 per cent came from its Duketon project and the remainder from its Tropicana mine. While the company’s annual production of 458,354oz was towards the lower end of its previously advised range (between 450,000oz and 500,000oz), the result underpinned cash and bullion for the year of $243 million, an increase of $12m on the previous financial year. Regis managing director Jim Beyer said the results would help support development of its McPhillamys project in New South Wales. “With commercial production declared at both Garden Well underground and Havana open pit, we have commenced the journey from investment phase to having two cash-generating pillars that can be used to help fund our growth project, McPhillamys, once approved,” he said. Regis is expected to advise on production and cost guidance for financial year 2024 towards the end of July. Shares in the company last trade at $1.92.