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Regis Resources achieves record gold production in H1'18

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Regis Resources achieves record gold production in H1'18

Regis Resources Ltd. said Feb. 20 that it produced a record 184,034 ounces of gold at the company's Duketon gold project in Western Australia in the first half of its fiscal 2018, up from 154,702 ounces produced in the year-ago period.

The Duketon Northern Operations and Duketon Southern Operations produced 59,367 ounces and 124,667 ounces, respectively, representing 33% and 13% increases on a yearly basis.

During the half-year period, the company sold 183,846 ounces of gold at an average price of A$1,641 per ounce, compared to sales of 144,699 ounces at an average price of A$1,742 per ounce in the same period of the previous year.

Regis' revenue climbed 18% year over year to A$299.0 million in the first half, leading to a record net profit after tax of A$84.6 million, representing a 39% year-over-year increase.

The company is on track to meet the mid to upper end of its annual production guidance of between 335,000 and 365,000 ounces of gold, at all-in sustaining costs of A$858 per ounce, below the lower end of its annual cost guidance for fiscal 2018.

Additionally, the company declared an interim dividend of 8 cents per share fully franked, payable on March 21.