Name of the Project
McPhillamys gold project.

Location
Kings Plains, about 8 km from Blayney, in New South Wales, Australia.

Project Owner/s
Regis Resources, through its subsidiary LFB Resources.

Project Description
The project aims to develop a seven-million-tonne-a-year operation.

The project includes three-stage crushing, including high-pressure grinding rolls; a 6.9 MW ball mill; whole ore leach at 45 µm with two 3.4 MW vertical mills; conventional carbon-in-leach tanks and associated equipment; a tailings storage facility (Stage 1); a 90 km water supply pipeline and all associated infrastructure encompassing power, offices and workshops.

Potential Job Creation
The project will create about 480 jobs during the initial 12- to 18-month construction period for the mine site, and another 260 jobs once the mine is operating. Construction of the proposed water pipeline will provide another 120 jobs.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Regis reported in April 2024 that the previously indicated development costs will be higher than previously anticipated and communicated. Preproduction capital is now estimated at between $115-million and $155-million, with total construction costs estimated at between $845-million and $900-million.

Planned Start/End Date
Construction is expected to take two years to complete.

Latest Developments
Regis Resources is taking legal action against the Australian government over a decision in August 2024 that effectively halted the McPhillamys project.

The gold miner has filed for a judicial review in the Federal Court seeking to have a Section 10 declaration issued by Environment Minister Tanya Plibersek declared invalid. Regis is also requesting that the Section 10 application be reconsidered.

In August, Plibersek issued an Aboriginal protection order over the proposed site of the mine’s tailings dam. While the Minister stated that the order would not necessarily prevent the project from progressing, suggesting that the tailings dam could potentially be relocated, Regis maintains that the loss of access to the originally planned tailings storage facility area renders the project “not viable” in its current form.

The Section 10 declaration effectively restricts the use of the land for the tailings facility on a site that includes headwaters of the Belubula river.

Regis has acknowledged the uncertainty surrounding the legal process, but has expressed hope that the matter will be resolved by mid-2025.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Regis Resources, tel +61 8 9442 2200 or email enquiries@regisresources.com.