Regis Resources (RRL) Q2 2025 earnings summary

Executive summary

• Achieved a fourth consecutive quarter of strong cash generation, with record cash and bullion build of $149M, reaching $529M at quarter end, surpassing the previous record by AUD 40 million.

• Maintained debt-free and unhedged status after repaying $300M term loan ahead of schedule, the first time since 2010.

• No lost-time injuries for the quarter; 12-month moving average lost-time frequency rate at 0.4, well below industry average.

• Maintained robust operational delivery and consistent performance across all sites, with strong results at Duketon and Tropicana.

• FY25 production and cost guidance maintained, with strong operational and exploration progress.

Financial highlights

• Produced just over 101,000 oz of gold at an AISC of $2,317/oz, including $47/oz in non-cash stockpile costs.

• Gold sales of 118,100 oz generated $482M at an average realised price of $4,076/oz.

• Operating cash flow was $215M (Duketon $101M, Tropicana $114M); capital expenditure totaled $54M.

• Cash and bullion balance exceeded $500M after a quarterly increase of $149M, reaching $529M at quarter end.

• Retired $300M syndicated loan facility several months early.

Outlook and guidance

• FY25 group production guidance remains at 350,000–380,000 oz, with AISC guidance of $2,440–$2,740/oz.

• Duketon: 220,000–240,000 oz at AISC of $2,500–$2,800/oz; Tropicana: 130,000–140,000 oz at AISC of $2,300–$2,600/oz.

• Growth capital for FY25 guided at $120–135M; exploration spend at $50–60M.

• Expect continued strong cash generation if gold prices remain at current levels.

• No material changes to guidance from low-grade stockpile projects.