Regis Resources (RRL) H1 2025 earnings summary

Executive summary

• Achieved a net profit after tax of $88.4 million for H1 FY2025, reversing a $91.8 million loss in H1 FY2024, with strong profitability and cash generation driven by robust gold sales and high prices.

• Maintained operational consistency and safety, with a lost-time injury frequency rate of 0.4, well below industry averages and no significant environmental incidents.

• Gold production totaled 195,801–196,000 ounces at an all-in sustaining cost just over $2,400/oz, in line with expectations.

• Major development projects at Garden Well Main, Rosemont Stage 3, and Havana Underground are progressing, with commercial production at Havana targeted for early 2027.

• Record operating cash flows and cash/bullion balance were achieved, supported by robust gold sales and high gold prices.

Financial highlights

• Revenue rose to $777.3 million, up 41% year-over-year, with an average realised gold price of $3,932/oz.

• EBITDA rose 472% to $359 million, and net profit after tax swung to $88 million from a $92 million loss in H1 FY24.

• Cash flow from operations surged to $348 million, with cash and bullion at period end reaching $529 million.

• Net cash position improved by $374 million year-over-year, moving from net debt to net cash of $229 million.

• Earnings per share improved to 11.7 cents, compared to a loss of 12.2 cents per share in H1 FY2024.

Outlook and guidance

• FY25 group production guidance is set at 350–380koz with AISC of $2,440–2,740/oz.

• Growth capital guidance of $120–135 million and exploration spend of $50–60 million for FY25.

• Production and cost guidance for the year remains unchanged, with expectations to continue delivering on plan.

• Board to consider restarting dividends at year-end, contingent on continued strong performance and gold prices; no interim dividend declared for the half-year.

• Garden Well Main and Rosemont Stage 3 underground mines targeting combined annual gold production of 100–120koz from FY27; Havana Underground commercial production expected in early 2027.