Regis Resources Limited ( (RGRNF) ) has released its Q2 earnings. Here is a breakdown of the information Regis Resources Limited presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Regis Resources Limited, an Australian gold mining company, operates primarily in the gold exploration and production sector, with significant operations at the Duketon and Tropicana Gold Projects. In its latest financial report for the half-year ending December 2024, Regis Resources Limited has announced a return to profitability with a consolidated net profit after tax of $88.4 million, a significant turnaround from a loss of $91.8 million in the previous corresponding period. The company reported gold sales of 197,690 ounces at an average price of $3,932 per ounce, leading to a revenue increase to $777.3 million from $550.1 million last year.
The Duketon Gold Project produced 115,776 ounces of gold at an all-in sustaining cost of $2,659 per ounce, which is higher than the previous period due to decreased production volumes. The Tropicana Gold Project, in which Regis holds a 30% stake, achieved production of 80,025 ounces at a lower all-in sustaining cost of $1,958 per ounce. The company continues to advance with its strategic developments, including the Garden Well Main and Rosemont Stage 3 underground projects, which are expected to enhance production capacity by FY27.
Regis Resources is also investing in exploration activities, having drilled over 132,000 meters across its Duketon and Tropicana sites. The company has identified potential expansion opportunities in its existing projects, which could increase mine life and enhance gold production targets. Additionally, the Tropicana project’s Havana underground development is progressing, with commercial production anticipated in early 2027.
Looking ahead, Regis Resources Limited maintains a positive outlook with key strategic projects underway and a robust exploration program. The company has recently repaid its $300 million syndicated loan facility, strengthening its financial position, and established a new $300 million undrawn secured revolving credit facility, providing additional liquidity for future growth initiatives.
