Regis Q2 output rises 7%, on track to meet FY guidance

PERTH (miningweekly.com) – Gold miner Regis Resources has reported its highest quarterly production in the three months to December since 2014.

Gold production during the quarter reached 80 090 oz, which was at the upper end of the yearly guidance range, the miner said on Monday. Production was 7% higher than the first quarter’s production as grades improved at the Garden Well and Rosemont mines, in Western Australia, and first ore was processed from the Gloster deposit, also in Western Australia.

Gold production in the first half of the financial year reached 154 702 oz, placing Regis on track to exceed its 2016 production, and to achieve its guided output of between 300 000 oz and 330 000 oz for the 2017 financial year.

Meanwhile, Regis on Monday reported that it had sold 71 092 oz of gold during the three months under review, at an average price of A$1 719/oz, with cash and bullion increasing to A$129.7-million at the end of the second quarter.

Pre-royalty cash costs for the quarter reached A$804/oz while all-in sustaining costs were A$951/oz, both of which were below the lower end of the guidance for 2017.