- 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.