Regis Resources (ASX:RRL) has increased its cash and bullion at hand to $380 million as of 30 September 2024, representing an $85 million increase from the previous quarter.
During the September quarter, Regis’ total group production was 94,500 ounces, which includes 57,500 ounces of gold from the Duketon Gold Project, while the Tropicana joint venture turned out 37,000 ounces of gold.
Regis, which has a market capitalisation of $1.5 billion, says the most recent quarter of production is a “significant” improvement from the weather-affected prior quarters.
“This solid operational performance across the business, paired with record gold spot prices, delivered a third consecutive quarter of meaningful cash to the balance sheet,” the company notes.
Gold’s spot price was sitting at $3,889.58 per ounce, as of 3pm AEDT Thursday (10 October).
The Duketon Project lies in the north eastern Goldfields of Western Australia and consists of three operation centres. The project comprises the Moolart Well Gold and Garden Well mines, as well as the Rosemont open pit and underground mine.
Tropicana is a joint venture between Regis, which holds 30%, and AngloGold Ashanti (NYSE:AU), which holds 70%. The project sits 330km east-northeast of Kalgoorlie in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Regis Resources
