Regis Resources Limited (ASX: RRL) is one of the largest 100% Australian centric, unhedged gold producers listed on the ASX. Regis is an ASX200 company, who in FY24 produced 418koz of gold from its 100% owned Duketon Project and 30% owned Tropicana Project in Western Australia.

The Company is a gold producer with dominant land positions on the Duketon Greenstone and Albany Fraser Belts. Its operations in the Western Australian goldfields include the Duketon Gold Project and the Tropicana Gold Mine Joint Venture . During FY24, the Duketon Gold Project produced from two production centres, Duketon North and Duketon South, however at the end of FY24, Duketon North entered Care and Maintenance.

In FY24, Duketon produced 290koz and Regis’ share of production from the Tropicana Gold Mine JV was 128koz. Group AISC was US$1,606/oz and includes $62/oz of non-cash stockpile movements.

In December 2023, Regis closed out its legacy hedge book and 100% of gold sold is now leveraged to the currently rising gold spot price. In FY24, Regis generated record cash flows from operations of US$322m and at the end of FY24 held a record US$200m of cash and bullion. With solid operational performance and record gold prices, Regis delivered underlying EBITDA of US$285m in FY24. At the end of FY24 Regis held a net debt position of US$3m.

Looking at FY25, Regis expects to deliver 350koz to 380koz from its 100% WA asset base at an AISC of US$1,654/oz to $1,858/oz.

Regis also continues to progress with its strategic growth objectives, announcing the development of two underground areas within Duketon. With these, Regis will operate three underground mining areas across Duketon, with a target of operating four or more underground mining areas to sustainably deliver 200koz to 250koz pa in the future. Regis is also continuing to explore for large scale high-value, open pit ore sources.

At Tropicana, exploration activities are also continuing to identify extensions of underground mineralisation at depth as well as new underground targets. Similarly to Duketon, regional exploration at Tropicana continues for additional or large scale high-value, open pit ore sources.