Regis Resources demonstrated strong operational execution in the final quarter of FY26, delivering full-year gold production of 379,000 ounces at the top end of guidance with all-in sustaining costs (AISC) of $2,945 per ounce. The company reported quarterly production of 101,500 ounces at an AISC of $3,244 per ounce, with Duketon contributing 62,500 ounces and Tropicana 39,100 ounces. This performance, achieved safely with a lost time injury frequency rate of 0.30 per million hours, underscores Regis’ ability to consistently deliver within its operational targets.
The financial backdrop amplifies the operational story. Gold sales for the quarter totaled 102,400 ounces, generating $639 million in revenue at an average realised price of $6,241 per ounce. Operating cash flow reached $376 million in the quarter, with Duketon contributing $194 million and Tropicana $182 million. More notably, the company’s cash and bullion position reached a record $1.18 billion at June 30, representing an increase of $667 million over the financial year despite paying $151 million in dividends and $156 million in tax. This cash generation reinforces Regis’ position as one of Australia’s most profitable gold producers and provides meaningful flexibility for capital allocation.
Beyond the strong cash generation, the quarter marked a turning point for the company’s growth trajectory. Regis released a pre-feasibility study for the McPhillamys project that validates a compelling long-life development opportunity. The study confirms an after-tax net present value of $1.13 billion at an assumed gold price of A$4,000 per ounce, with an internal rate of return of 21.8 percent. The project is underpinned by average annual production of 190,000 ounces at an average AISC of $1,718 per ounce, supported by a reinstatement of ore reserves totaling 1.89 million ounces. These metrics represent a transformational growth step for a company seeking to expand production over the medium term.
Exploration activity also delivered positive momentum, with new mineral resources identified at Beamish South (270,000 ounces) and continued mineralisation extensions confirmed at multiple locations within the existing Duketon and Tropicana operations. This pipeline of potential development projects suggests multiple pathways for organic growth beyond McPhillamys.
Regis’ board decision not to pursue the Vault Minerals Limited acquisition demonstrates disciplined capital allocation. While the company elected not to submit a counterproposal after determining that deal terms did not meet its value thresholds, Regis received a break fee of approximately $50 million. This decision reflects a strategic commitment to prioritizing organic growth and maintaining balance sheet strength over pursuing acquisitions at elevated valuations, a posture that has served shareholders well historically.
Looking ahead, investors will focus on the timing and execution of the McPhillamys development, exploration progression at early-stage projects, and whether the company’s stronger cost profile for FY27 translates into enhanced cash flow and dividend potential. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About Regis Resources Limited (ASX: RRL)
Regis Resources Limited is an Australian gold producer and explorer that engages in the exploration, evaluation, and development of gold projects. The company operates the Duketon Gold Project in the northeastern Goldfields of Western Australia and the Tropicana Gold Project east-northeast of Kalgoorlie in Western Australia.
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