Australian mining company Regis Resources summed up the results of the 2024 financial year and reported that its gold production amounted 11.8 tons.
“The company's overall production of 417,700 ounces (11.8 tons) for FY2024 was within its guidance range,” Regis said in a statement.
Summing up the last quarter results, the company reported a strong growth in its quarterly cash and bullion balance, hitting a record A$295 million ($199.5 million) at the end of June. “This is a record increase of A$109 million ($73.7 million) compared to March 31,” Regis Resources said, explaining that the high performance was driven by solid production of 106,400 ounces of fully unhedged gold and a A$20-million ($13.5 million) tax refund received in the quarter.
During the quarter, operational performance in the Duketon and Tropicana in Western Australia continued to recover after heavy rains in March. Duketon mine produced 75,600 ounces of gold, bringing the total to 289,900 ounces of gold (8.22 tonnes) for the full year, which is within the 2024 guidance range.
At the same time, operations at the Tropicana mine (a joint venture with AngloGold Ashanti) had a slower recovery after experiencing a more significant impact from the rain. The mine produced 30,800 ounces in three months, resulting in a guidance miss and bringing total of 127,800 ounces (3.62 tonnes) for the full year.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
