PERTH (miningweekly.com) – Gold miner Regis Resources has reported an increase in gold production for the June quarter, on the back of record production from the Duketon operations and first contributions from the recently acquired 30% stake in the Tropicana gold mine, in Western Australia.
Gold production in the three months to June reached 114 145 oz, at an all-in sustaining cost (AISC) of A$1 387/oz, compared with the 85 748 oz produced at an AISC of A$1 388/oz.
Regis MD Jim Beyer told shareholders on Thursday that production from the Rosemont underground operation lifted to record levels and this saw production for the year from Duketon finish within the guidance range and all-in sustaining costs only slightly above.
Duketon operations reported a record production of 96 829 oz during the June quarter, up from the 85 748 oz produced in the March quarter.
“Completion of the Tropicana acquisition and record production at Duketon resulted in record Regis quarterly production of over 114 000 oz for the June quarter,” said Beyer.
“Development continued at our latest growth project, the Garden Well South underground mine. We are expecting to reach first ore before the end of December and to declare commercial production by the end of the June quarter of next year. This will be an excellent addition to our production profile.
“We continue to make some constructive progress with New South Wales Department of Planning, Industry and Environment (DPIE) in relation to permitting for the McPhillamys project and still believe that a recommendation by DPIE to the Independent Planning Commission has the potential to be made in the first half of 2022.“
During the June quarter Regis delivered substantial increases in mineral resources and ore reserves. This was achieved by upgrades and new additions at Duketon along with the inclusion of its 30% share of Tropicana bringing reserves to 4.8-million ounces and resources to 10.4-million ounces.
“Looking forward, 2022 will see a material step-up in company scale with a production guidance range of 460 000 oz to 515 000 oz at an AISC range of A$1 290/oz to A$1 365/oz,” said Beyer.