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Regis Resources' Q2 gold output climbs on higher grades

Regis Resources Ltd. upped its gold output in the second quarter of the 2017 financial year by 7%, producing 80,090 ounces.

The Australian gold producer said Jan. 16 that the quarterly run rate places production in the upper half of its fiscal-year guidance range of 300,000 to 330,000 ounces.

The increase in output from the Duketon operation in Western Australia was due to an 11% to 12% increase in grade from both the Garden Well and Rosemont deposits and the processing of first ore from the Gloster deposit.

Mining also began at the Erlistoun project during the quarter, with ore stockpiled at the Garden Well processing plant and expected to have a positive impact on grade processed in the third quarter of the 2017 financial year.

Gold output for the first half of the fiscal year amounted to 154,702 ounces.

Meanwhile, all-in sustaining costs are sitting below the lower end of guidance at A$951 per ounce.