Half Year Financial Results 31 December 2023
Regis Resources reported a statutory net loss of $92M for H1 FY24, significantly impacted by hedge delivery and close-out costs totaling $179M.
The company achieved an underlying EBITDA of $167M with a 30% margin, excluding $98M for hedge book closure.
Gold production for H1 FY24 was 220,632oz at an AISC of $2,119/oz, with sales revenue of $550M from 211,010oz sold at an average price of $2,607/oz.
Cash and bullion on hand as of 31 December 2023 was $155M, after a $98M payment to close out the hedge book.
Net debt stood at $145M as of 31 December 2023.
The company expects a $20M tax refund in H2 FY24 and maintains its FY24 production guidance of 415,000 - 455,000oz at an AISC of $1,995 - $2,315/oz.
Key assets, Tropicana’s Havana Cutback and Duketon’s Garden Well South Underground, have entered commercial production.
The McPhillamys project is progressing, with the Definitive Feasibility Study due soon, despite delays in the Section 10 assessment.
Exploration and growth capital expenditures are significant, with $160M invested in future growth during H1 FY24.
The company fully closed out its hedge book in H1 FY24, delivering 57koz into forward hedge contracts and financially closing out 63koz in December 2023.
Regis Resources is evaluating two potential new underground projects at Duketon, with final assessments expected in H2 FY24.
This announcement is a summary of the company approved ASX announcement on 22/2/2024 and is based on facts.