A definitive feasibility study at Regis Resources’ McPhillamys gold project in New South Wales has confirmed the project to be a long-life, low operating cost one.
McPhillamys now has an updated ore reserve of 56 million tonnes, with a peak annual gold production of 235,000 (koz), averaging 187koz per year during full production.
Regis Resources managing director Jim Beyer said the company is celebrating the finalisation of the study, a culmination of 12 years of work.
“The study clearly demonstrates the opportunity and value proposition that was recognised when we acquired the project in 2012,” he said.
“McPhillamys is a long-life, low operating cost, expandable open pit project. It will produce profitable ounces for our shareholders while generating significant benefits for our local and regional communities and other stakeholders.”
McPhillamys is set to deliver gross revenue of $5.2 billion. There is also significant future value growth potential at the site, as nearby Discovery Ridge and Kings Plains represent opportunities to enhance the scale and improve the economics of McPhillamys.
“McPhillamys is located in the heart of a prolific gold belt and we believe there is further value to be extracted from the project,” Beyer said.
“Between now and when the project is presented for a final investment decision in the 2025–26 financial year, our teams will advance value engineering and optimisation works to enhance the project economics.
“We will work on optimising the capital requirements and seek to expand the current mining inventory.”
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