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Last edited 3 years ago
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#Financials
stale
Added 3 years ago

FY21 Half yearly summary

Exploration Spend Cut A$7M to A$28M
Interim Dividend of 4 Australian Cents/Share (down from 8 cents)
EBITDA A$199m up 7% (from PCP)
EBITDA Margin 50%
1H Profit Before Tax A$123.2 Million, Down 9% On-Year 
1H Net Profit A$84.8 Million, Down 9% On-Year 
Net Profit Margin +21%


[Holding RRL]

#Risks
stale
Added 4 years ago

Not a good quarterly hence weak price action. But maybe oversold

Bear points is the lower production compared to last year at the main operations (Rosemont, Garden Well, Moorlart Well).

They still have quite a bit of hedges to get through and will now need to rapidly find ways of getting more production to minimise impact. Perhaps accelerate their exploration work.

I do own Regis

#ASX Announcements
stale
Added 4 years ago

ANOTHER KEY MILESTONE FOR MCPHILLAMYS GOLD PROJECT

Regis Resources Managing Director, Jim Beyer, said the Submissions Report addressed comments and questions that were raised by government agencies and the community during the public exhibition of the Environmental Impact Statement (EIS) in 2019.

“Our project team and independent technical experts have amended the project where appropriate, based on the submissions received, to achieve improved environmental and community outcomes,” Mr Beyer said.

“The Amendment Report sets out these changes in detail, along with other modifications that were made in order to optimise and fine-tune the project,” he said.

“This marks another significant milestone in the McPhillamys assessment process and the development application will now be assessed by the NSW DPIE before being determined by the NSW Independent Planning Commission (IPC).

“Our understanding is that the DPIE assessment could be completed by the end of the year, with a possible decision by the IPC during the first half of 2021.

“In the meantime, our project team will continue to consult with neighbours, local landowners, councils and other stakeholders to brief them on the project amendments; develop individual management/mitigation plans; and progress the voluntary planning agreement (VPA) which will deliver a significant boost to local infrastructure. The project is expected to create an average of 350 construction jobs during the construction phase and 260 direct jobs in operations, providing a major economic boost for Blayney and the Central West.

“McPhillamys would provide a major boost to the local economy through many training, job and business opportunities with significant benefits being shared across the community,” Mr Beyer said.

#Bull Case
stale
Last edited 4 years ago

Macquarie Presso

Parts I liked:

"Expanded Greenfields exploration activities on newly acquired tenure (from DKM) will generate new large gold
targets (+1Moz) and significantly increase the chances of new discoveries"

"Regis’ hedge position reduced to ~419koz at an average of A$1,620/oz".. These are "spot deferred" hedges.

"Regis is currently actively managing the process of selling into the lowest price hedges. Currently at a rate of approximately 10koz per
quarter – assuming a spot of A$2,410/oz this results in less than a 5% drop in average price realised compared with the spot"