Real Economy News in Real Time
R/€ = 19.99 Change: -0.35
R/$ = 17.97 Change: -0.35
Au 1626.15 $/oz Change: 4.67
Pt 741.50 $/oz Change: -6.05
 
 
Real Economy News in Real Time
R/€ = 19.99 Change: -0.35
R/$ = 17.97 Change: -0.35
Au 1626.15 $/oz Change: 4.67
Pt 741.50 $/oz Change: -6.05
 
 
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Regis posts record profit on higher gold price

17th February 2020 BY: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – ASX-listed gold miner Regis Resources has reported a record net profit after tax of A$93.4-million for the half-year ended December, on the back of increased gold prices.

During the interim period, Regis sold 183 807 oz of gold, down from the 186 276 oz sold during the previous corresponding period, with prices increasing from $1 696/oz to $2 063/oz in the same period.

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Revenue for the half-year reached A$371.4-million, up by 17% on the previous corresponding period.

“We continue to deliver solid cash flow with robust net profit margins of 25%, which has allowed the company to undertake a period of significant capital investment towards the development of the Rosemont underground and new satellite deposits at Dogbolter-Coopers, Baneygo and Petra,” said Regis MD Jim Beyer.

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The Duketon operations continue to be on track to deliver on yearly guidance of between 340 000 oz and 370 000 oz, with all-in sustaining costs are expected to be at the upper end of the guidance of between A$1 125/oz and A$1 195/oz, after excluding the extra royalty cost impact associated with the higher gold price. 

EDITED BY: Creamer Media Reporter
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