Regis Resources (RRL) 2025 Conference Transcript

Summary of Conference Call Transcript Company Overview - Company: Regis Resources - Industry: Gold Production - Key Assets: - Duketon: 3,300,000 ounces in resource - Tropicana: 1.6% attributable ounces in resource - Macphillamys: Large undeveloped asset in New South Wales Core Points and Arguments 1. Production Performance: - Last year, production was 373,000 ounces, slightly above midpoint guidance, with all-in sustaining costs at $25,301, both within favorable ranges [4][6][29] 2. Financial Health: - Cash and bullion increased to GBP $517,000,000, with debt reduced from £300,000,000 to zero [6][33] - Positive cash flow and high gold prices have allowed the company to pursue opportunistic ounces [6][31] 3. Operational Strategy: - Focus on maintaining production at Duketon in the range of 200,000 to 250,000 ounces [8][10] - Plans to establish four underground mines to sustain production levels [10][12] 4. Exploration and Growth: - Exploration at Macphillamys has faced delays due to environmental regulations, but the project is still considered valuable with potential for significant cash flow [5][23][27] - Ongoing exploration around Duketon and Tropicana to identify new open pits and extend mine life [28][22] 5. Tropicana Insights: - Production expected to be in the range of 125,000 to 145,000 ounces over the next few years [11][20] - Underground reserves have increased from 320,000 ounces in 2018 to 640,000 ounces currently [20][21] 6. Macphillamys Project: - Legal challenges are ongoing regarding heritage protection issues, but the project is seen as a significant opportunity with a potential cash flow of $1,000,000 to $1,500,000 per day if operational [24][25][27] 7. Cost Management: - All-in sustaining costs have increased slightly, with $170 per ounce attributed to non-cash costs [29][30] - The company is strategically using spare mill capacity to chase opportunistic ounces, balancing cost and production efficiency [31][32] Additional Important Content - Market Position: - Regis Resources is positioned in two highly prospective gold belts, Duketon and Albany Fraser, which are underexplored [34] - Future Outlook: - The company aims to continue delivering on its growth strategy while adapting to market conditions and gold price fluctuations [33]