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Highlights

  • Regis Resources is a gold producing and exploration company with focus on Western Australia and New South Wales region
  • RRL witnessed a record gold production of 458koz in FY23
  • Van Eck Associates Corporation is the top shareholder of RRL with a shareholding of approximately 9.71%

Regis Resources Limited (ASX: RRL) is an ASX-listed gold producing and exploration company with operations in the Duketon and Tropicana gold belts. The company is engaged in tapping opportunities through gold exploration, development and evaluation opportunities in Western Australia and New South Wales region.

In the financial year 2023 (FY23), the company registered a net loss. However, the period saw record gold production of 458koz, operating cashflow and revenue. In FY23, gold sales increased by 12% YoY to AUD 1,134 million and operating cash flow surged by 31% YoY to AUD 455 million. The period witnessed a 2% YoY fall in underlying EBITDA to AUD 402 million.

Top 10 shareholders of RRL

The top 10 shareholders of RRL have around 38.84% of the shareholding in the company, while the top four have nearly 24.65% shareholding. Van Eck Associates Corporation and The Vanguard Group, Inc. have the maximum stake in the firm with a shareholding of ~9.71% and ~5.01%, respectively.

Recent business update

Through an ASX filing dated 23 November 2023, the company released an AGM update through which the company shared the overview of the firm, talked about the company’s performance in FY23, operational performance and road ahead.

On 26 October 2023, the company shared that in the quarter ended 30 September 2023, gold production stood at 111.4koz at an AISC off AUD2,106/oz and gold sales stood at 106.6koz.

Outlook

In FY24, the company expects to deliver gold production of 415-455 koz at an AISC of AUD 1,995-2,315 per ounce. By FY27, the company intends to achieve gold production of 500koz.

At Duketon, the focus is on ramping up and optimising undergrounds while expanding production. At Tropicana, the plan is to ramp up Havana open pit and decrease waste movement from FY25.

In FY24, for McPhillamys, RRL expects a final investment decision and in FY27, commissioning of first gold pour is anticipated.

Share performance of RRL

RRL shares closed 3.28% lower at AUD 1.915 apiece on 5 December 2023. With this, the share price has dropped by 5.20% in the last one year and has increased by 21.20% in the last three months. The 52-week high of RRL is AUD 2.46, recorded on 14 April 2023, and the 52-week low is AUD 1.44, recorded on 4 October 2023.

 

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

 

Note 2: The reference date for all price data, currency, is 05 December 2023. The reference data in this report has been partly sourced from REFINITIV.