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Increased production drives Regis half-year

13th March 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Regis Resources has reported a record first half, with gold sales up 23% and after-tax profit up 4%.

The miner reported on Friday that higher production from the Rosemont operation, in Western Australia, combined with higher production from the Moolart Well operation, had resulted in gold sales increasing, from 131 060 oz in the six months ended December 2013, to 168 680 oz in the six months to December 2014.

In the six months under review, Regis realised revenues of A$240.4-million, resulting in its after-tax profit increasing to A$47.6-million, up from A$45.6-million in the prior comparable period.

The Moolart Well mine produced 58 030 oz in the interim period, the Garden Well mine 57 053 oz and the Rosemont mine 53 800 oz.

Offsetting the higher production and revenue, was a 4% decline in the gold price achieved during the interim period, as well as higher costs of production at the Duketon gold project.

At the end of December, Regis had some A$23.7-million in cash and gold on hand.

Edited by Creamer Media Reporter

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