Regis Resources posted a solid operational performance for the September 2024 quarter, marking its third consecutive quarter of cash and bullion growth.
The company produced 94,500 ounces (oz) of gold across its operations, which combined with record gold prices, has boosted its financial standing.
The end of September, Regis’ cash and bullion reserves sat at $380 million, a substantial $85 million increase from the previous quarter’s $295 million.
This builds on a $225 million rise over the past three quarters since the closing of the company’s legacy hedge book.
Gold production at Regis’ key operations exceeded expectations, the Duketon operation, which includes both open pit and underground activities, delivered 57, 500oz, while the Tropicana mine produced 37,000oz.
Tropicana bounced back after weather-related challenges impacted the operation in previous quarters.
The group’s total production of 94,500oz keeps the company on track to meet its 2024–25 financial year (FY25) guidance of 350,000–380,000oz, with Duketon expected to contribute between 220,000–240,000oz and Tropicana between 130,000–140,000oz.
The company remains optimistic about sustaining this momentum moving forward.
Regis will release its full quarterly results on October 24, accompanied by a conference call to discuss its operational and financial performance in greater detail.
Last month at the Denver Gold Forum, Regis Resources provided insights into its strategic focus and recent achievements, highlighting its ongoing production growth and financial strength.
The company discussed its operational improvements at both the Duketon and Tropicana mines, emphasising the benefits of closing the legacy hedge book, which has allowed it to capitalise on record gold prices.
Regis also detailed its meticulous approach to capital allocation, emphasising the importance of building cash reserves and maintaining strong balance sheet health to support future growth initiatives and shareholder returns.
Environmental and sustainability efforts were also discussed, aligning with broader industry trends.
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