Regis Resources delivered Q1 FY27 production of 83.0 koz at an all-in sustaining cost of $3,617/oz, meeting expectations despite significant September rainfall that disrupted open pit mining and ore haulage. The company generated $265M in operating cash flow and increased its cash and bullion position by $93M to $1.28B during the quarter, including the unexpected $51M break fee from the terminated Vault Minerals merger. This strong balance sheet reflects disciplined capital deployment and positions the company well for growth capital spending in the second half of FY27.
Duketon produced 56.1 koz at $3,657/oz whilst Tropicana, in which Regis holds a 30% stake, contributed 27.0 koz at $3,423/oz. The September weather event shifted production weighting towards the second half of the year, a development management had flagged given the timing of multiple new open pit ramp-ups scheduled for H2 FY27. Full year production guidance of 360-400 koz remains unchanged, and the company expects progressively improving performance as the weather impact unwinds and new mining areas come online. FY27 AISC guidance of $2,990-3,390/oz also stands, though management noted that the quarter’s diesel price of $1.45/L exceeded guidance assumptions of $1.35/L.
Beyond operational execution, Regis achieved a significant strategic win when the Federal Court ruled that the Section 10 Declaration affecting part of the McPhillamys Gold Project is legally invalid. The judgment vindicates the company’s position since August 2024 and adds potential optionality to the project alongside the alternative Integrated Waste Landform development pathway under review. McPhillamys carries a reinstated Ore Reserve of 56 million tonnes at 1.1 g/t for 1.89 million ounces of gold. The court ruling removes a material uncertainty that had constrained the project timeline. Regis intends to actively participate in any redetermination process but continues to progress the alternative development approach as a hedge against a protracted regulatory process.
Rosemont Underground exploration drilling confirmed an additional 600 metre-long mineralised segment south of the current Resource envelope, with mineralisation remaining open along strike and down-dip. This extends the mine life trajectory of the Duketon asset and reflects consistent execution of the company’s organic growth strategy. Capital expenditure totalled $152M in the quarter with $76M directed to growth at Duketon, including Ben Hur and BuckWell pit developments, the Garden Well paste fill infrastructure, and acquisition of the Banjawarn Station pastoral lease for $7M.
Regis also announced board changes, with Chairman James Mactier and director Fiona Morgan retiring at the November Annual General Meeting after approximately a decade of service. Ian Macliver, an experienced mining sector chairman, joined as independent non-executive director and has been nominated as Chairman-elect. The post-quarter dividend payment of 20 cents per share totalled $152M. Key metrics to monitor include H2 FY27 production ramp, any further diesel price movements, and progress on the McPhillamys redetermination process. This announcement is price sensitive and has been flagged as material by the ASX.
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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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