Operations
- The 12 Month Moving Average Lost Time Injury Frequency Rate (LTIFR) continued to improve reducing to 1.3 down from 1.4 at the end of the prior quarter.
- Quarterly gold production of 114,145oz at an AISC of $1,387/oz with a Duketon record of 96,829oz at an AISC of $1,254/oz and two months of Tropicana of 17,317oz at an AISC of $2,121/oz.
- Gold sales for the quarter totalled $279M at an average realised price of $2,222/oz after adjusting for hedging.
- Full year gold production of 372,870oz at an AISC of $1,373/oz with Duketon at 355,553oz at an AISC of $1,336/oz and two months of Tropicana of 17,317oz at an AISC of $2,121/oz.
- Cash and bullion increased to $269M, including $44M in residual funds from the recently completed capital raising.
- Cash cost before royalties (inclusive of Tropicana) for the quarter of $1,038/oz and FY21 of $1,051/oz.
- FY22 Guidance of 460-515koz of gold, AISC of $1,290-1,365/oz and Growth Capital of $155-165M
Growth
- Completed acquisition of a 30% interest in the Tier 1 Tropicana Gold Mine for a final price of $889M.
- Group Reserves increased by 33% to 4.8Moz with an increase of 0.4Moz at Duketon and 0.8Moz at Tropicana.
- Group Mineral Resources increased by 35% to 10.4Moz with an increase of 0.4Moz at Duketon and 2.3Moz at Tropicana.
- Development of the Garden Well Underground mine (Feasibility Study total material mined - 1.85Mt at 3.2 g/t Au for 190koz) continued with first ore expected in December quarter and commercial production late in the June quarter.
- At the McPhillamys Project work continued to finalise outstanding items albeit with COVID-19 restrictions having some impact on progress. A recommendation by NSW Department of Planning, Industry and Environment (DPIE) to the Independent Planning Commission (IPC) still has the potential to be in the first half FY22.
***
Am I the only one who opens up a quarterly update, sees the first dot point relates to safety performance and thinks - I'm not going to like the financials... Vote up if you agree, but if you think I'm a callous cynical bastard vote do... oh - that won't work anymore will it...
Anyway in terms of this year they landed at the top of production guidance but well in excess of AISC, both at Duketon and Tropicana.
Probably the most pertinent information here is the release of FY22 guidance, which indicates a significant step up for Regis.
Oh, and I'm pleased to see the LTIFR is trending down...
[Held]
