Regis Announces Production Jump in 2019

Regis Resources reported that at the end of December, gold output was up 3,216 ounces from the previous quarter to 90,849 ounces.

Regis Resources (ASX:RRL,OTC Pink:RGRNF) reported that at the end of December, gold output was up 3,216 ounces from the previous quarter to 90,849 ounces.

Highlights are as follows:

  • Quarterly gold production of 90,849 ounces saw cash flow from operations increase by AU$17.5 million to AU$100 million for the December quarter
  • Cash and bullion increased by AU$21.4 million to AU$168.8 million at the end of the quarter, after payment of AU$32.4 million in capitalised mining costs, AU$10.4 million on exploration and feasibility projects, AU$15.2 million in income tax payments and AU$17.0 million on a number of significant capital projects.
  • Cash cost before royalties for the quarter were AU$866 per ounce. This reduction in quarterly cash costs was favourably impacted by the higher gold production as well as ongoing capitalised development of satellite pits during the December quarter.
  • AISC for the quarter reduced from AU$1,234 per ounce in the September quarter to AU$1,219 per ounce in the December quarter with this reduction principally driven by the higher gold production this quarter.
  • Full year production guidance remains unchanged with a production range of 340,000-370,000 ounces.
  • After excluding the royalty cost impact associated with the higher prevailing gold price (currently ~AU$18 per ounce), the full year AISC is now forecast to be at the upper end of the AU$1,125-AU$1,195 per ounce* guidance range, primarily driven by accelerated material movement and higher drill and blast costs which are currently the focus of a cost improvement project.
  • Rosemont underground development continued to progress with key ventilation and escape way infrastructure underway. Still targeting first stoping trials in the current March quarter.
  • Potential for significant mine life extension for Rosemont underground resources with high grade gold (0.3 meters at 43.9 grams per tonne (g/t)) intersected 750 meters below surface, 285 meters below the deepest existing planned development.
  • With the completion of the McPhillamys development application and the environmental Impact statement public exhibition period, the process of responding to submissions received has commenced.
  • This will be submitted to the NSW department of planning, industry and environment in due course.
  • Continued encouraging results for the potential Garden well underground including 2.7 meters at 6.5 g/t and 8 meters at 4.7 g/t gold. The underground project progressed well with the scoping study nearing completion. The preliminary feasibility study (PFS) is expected to start in the current March quarter.
  • Significant drill intercepts at the Baneygo project continues to support the potential for underground resources. Results include 6 meters at 6.7 g/t and 2 meters at @ 9.9 g/t gold. In addition, shallow intercepts provide encouragement for additional open pit oxide resources including 4 meters at 14.3 g/t from 20 meters down hole and 4 meters at 2 g/t from 20m down hole.
  • Promising results received from shallow drilling at the ranch open pit prospect located 4km south of Baneygo show potential for additional oxide Resources with 4 meters at 16.2 g/t and 12 meters at 1g/t gold.
  • Early drill testing of the Gloster underground target continues to deliver high grade drill intercepts. Results included 1 meter at 57.7 g/t and 2 meters at 5.2 g/t gold.

Click here to read the whole Regis Resources (ASX:RRL,OTC Pink:RGRNF) press release.

Tempus Closes A $1.9 Million Private Placement

Tempus Resources Ltd (“Tempus” or the “Company”) (ASX:TMR)(TSX.V:TMRR) is pleased to announce that it has closed the non-brokered private placement announced on 23 April 2021 (the “Placement

The Placement has been completed utilising the Company’s available capacity under ASX Listing Rules 7.1 and 7.1A. It includes two tranches: Tranche 1, which consists of 6,037,736 ordinary shares issued on 12 May, 2021, as “Canadian flow-through shares” at a price of C$0.155 (approximately A$0.163) per share for proceeds of approximately C$935,849; and Tranche 2, which consists of 6,065,425 ordinary shares issued on 30 April 2021 at a price of A$0.145 (approximately C$0.138) per share for proceeds of approximately A$879,487. The total proceeds from both Tranche 1 and Tranche 2 of the Placement are approximately A$1,866,149 (C$1,770,042). Following the completion of the Placement, the Company has 98,744,613 shares on issue.

Keep reading... Show less

Galaxy Resources Limited Announcement

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Appendix 2A

The announcement can be viewed at:

Keep reading... Show less

Massive Sulfide Nickel Drilling Update

Blackstone Minerals Limited (“Blackstone" or the “Company") is pleased provide an exploration update on its flagship Ta Khoa Nickel-Cu-PGE project, for which assay results have been received from drilling at its Massive Sulfide Vein (MSV) prospects (refer Table 3, Table 4 & Appendix 1).

Keep reading... Show less

Novo Completes Malmsbury Option Exercise with GBM Resources Limited

Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to advise that it has completed its option exercise to earn a 50% interest in the Malmsbury gold project (the “ Malmsbury Project ”) held by ASX-listed GBM Resources Limited (ASX: GBZ) (“ GBM ”) following the satisfaction of all conditions precedent, including receipt of Australian Foreign Investment Review Board approval (refer to the Company’s news releases dated March 30, 2020 September 24, 2020 and January 15, 2021 for further details).

“We are thrilled to complete our option exercise at Malmsbury,” commented Dr. Quinton Hennigh, Chairman and President of Novo. “We see Malmsbury as a Fosterville analogue given its similar position along the eastern margin of the prolific Bendigo Zone, epizonal orogenic setting and historic high-grade gold production. Our geologic team will pursue aggressive field work over the next few months with the goal of developing drill targets for testing later this year.”

Keep reading... Show less

Rare Earth Elements Demand is Still Growing

Rare Earth Elements are 17 silvery-white heavy metals with special magnetic capabilities. REEs have diverse applications and are commonly used in lasers, glass, superconductors, hard drives, wind turbine generators, and magnetic materials. Despite the name, REEs are abundant in the world, often found underground alongside uranium in sand structures called monazite. REEs concentrate must first be separated from the sand. Neodymium and praseodymium (NdPr) represent about 80% of the value of REE concentrate. Demand for these elements is growing because of their use in electric vehicles, wind turbines, and appliances. Adams Intelligence expects the demand for NdPr to double in the next five years. Removing REEs from monazite and then separating REEs into individual components is a complicated process. Read More >>

News Provided by Channelchek via QuoteMedia

Keep reading... Show less

Top News

Related News