Regis Resources (RRL) Q3 2025 earnings summary

Executive summary

• Achieved strong operational and financial performance in the March quarter, with gold production of 89,700 ounces at an AISC of AUD 2,538/oz, and cash generation in line with plans and guidance.

• Maintained a low Lost-Time Injury Frequency Rate, with LTIFR of 0.4, well below the Western Australian gold industry average of 2.2, reflecting a strong safety culture.

• Became debt-free after repaying a AUD 300 million term loan ahead of schedule, with a new undrawn AUD 300 million revolving credit facility in place, enhancing financial flexibility.

• Commenced commercial production from the 61MW Tropicana Renewable Energy Project, enhancing sustainability and reducing power costs.

• Legal proceedings continue regarding the McPhillamys Gold Project, with a judicial review hearing set for December 2025 and alternative tailings storage options under evaluation.

Financial highlights

• Produced 89,700 ounces of gold at an all-in sustaining cost (AISC) of AUD 2,538/oz for the quarter.

• Generated AUD 372 million in revenue from selling 81,000 ounces at an average realized price of AUD 4,591/oz.

• Operating cash flow reached AUD 221 million, with AUD 132 million from Duketon and AUD 89 million from Tropicana.

• Ended the quarter with AUD 367 million in cash and bullion, up AUD 138 million before loan repayment.

• Capital expenditure totaled AUD 72 million, including AUD 11 million for exploration, with significant investment in growth projects.

Outlook and guidance

• FY25 production guidance remains at 350,000–380,000 ounces, with Duketon at 220,000–240,000 ounces and Tropicana at 130,000–140,000 ounces.

• AISC guidance for FY25 is AUD 2,440–2,740/oz.

• Growth capital spend expected to be heavier in Q4, with full-year guidance maintained, likely at the lower end.

• Growth capital guidance for FY25 is AUD 120–135 million, and exploration guidance is AUD 50–60 million.

• No material changes anticipated in growth capital or exploration lines for next year; Havana underground at Tropicana may see increased activity in 2026.