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Record growth for Regis as quarterly cash and bullion soar by A$109m

The Tropicana mine missed its full-year guidance.

The Tropicana mine missed its full-year guidance.

8th July 2024

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

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Australian miner Regis Resources has reported strong growth in its quarterly cash and bullion balance, hitting a record A$295-million at the end of June.

This is up a record A$109-million from March 31.

The strong performance follows solid production of 106 400 oz of fully unhedged gold and a A$20-million tax refund received in the quarter.

During the quarter, operational performance across Duketon and Tropicana, in Western Australia, continued to recover from the major rain events that occurred in March.

Duketon produced 75 600 oz of gold, resulting in full-year gold production of 289 900 oz, which is within the 2024 guidance range.

Tropicana, a joint venture with AngloGold Ashanti, experienced a more significant impact from the rain and has had a slower recovery. The mine produced 30 800 oz in the three months, resulting in a guidance miss of 127 800 oz in the full year.

Nevertheless, the company’s overall production of 417 700 oz for the 2024 financial year was within its guidance range.

Regis will provide further operational and financial results, including its 2025 guidance, when it releases its full June quarterly report on July 25.

Edited by Creamer Media Reporter

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