JOHANNESBURG (miningweekly.com) – Gold and nickel miner Regis Resources on Friday reported record fourth-quarter and full-year gold production as higher grade satellite mill feed continues to have a positive impact on production at its Duketon mine in Western Australia.
Regis increased its production from 79 223 oz in the March quarter to 90 428 oz in the June quarter. All-in sustaining costs (AISC) decreased from A$1 024/oz in the third quarter to $870/oz in the fourth quarter.
The strong June quarter performance helped to increase full-year production to 324 353 oz at an AISC of $945/oz. The production performance is at the upper end of Regis’s guidance range of 300 000 oz to 330 000 oz, while AISC came in below the guidance range of $980/oz to $1 050/oz.
Regis sold 88 551 oz of gold at an average price of A$1 678/oz in the third quarter.
Regis said it would build on the strong 2017 performance and had set a gold production guidance of 335 000 oz to 365 000 oz at an AISC range of $940/oz to A$1 010/oz.
The miner would spend about $23-million on growth capital expenditure in 2018, the bulk of which would go to the development of new operations at Tooheys Well and Baneygo.
Shares in Regis climbed 2.20% on Friday to close at A$3.72 apiece.