The following is a summary of the Regis Resources Limited (RGRNF) Q3 2024 Earnings Call Transcript:
Financial Performance:
Regis Resources produced 90,600 ounces at an all-in sustaining cost of $2,735 an ounce in Q3 2024, impacted by significant weather events.
The company reported Q3 revenue of approximately $31 million, aided by an increase in gold prices by nearly AUD 400 an ounce from January to March.
The firm aims to fit within its FY '24 production cost and guidance ranges, despite weather challenges.
Regis Resources is currently reviewing their debt facility due mid-next year, considering options of rolling it or early repayments, especially as cash reserves rise.
Business Progress:
Despite weather-related disruptions and a downturn in mining rates, Regis Resources was able to maintain its expected production output, which they project to normalize in upcoming quarters.
The company declared commercial production at two new pits, and is completing the evaluation of two possible underground organic production growth projects.
Updates were given to cost assumptions and scope for the McPhillamys open pit gold project.
Several growth areas are being assessed, including the Tropicana's underground reserves, Duketon's underground target, and two organic growth projects at Duketon.
There are discussions on if M&A would be more beneficial in the current environment instead of the McPhillamys project, given its increased CapEx.
Exploration focus will shift towards DSO and Tropicana due to pending approvals at McPhillamys.
Regis Resources is actively evaluating capital expenditure optimization to avoid cost blowouts during construction.
More details: REGIS RESOURCES LTD IR
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