Regis narrows production guidance
PERTH (miningweekly.com) – Gold miner Regis Resources has flagged lower gold production for the March quarter, and has narrowed its guidance for the full 2023, following the slower-than-planned ramp-up of the new Duketon Garden Well South underground mine.
The company said this week that unplanned maintenance events at the Rosemont processing plant and lower underground performance from the Tropicana mine also impacted production.
Additionally, Duketon experienced wet weather impacts in late March, which extended into April.
As a result, the company produced only 103 728 oz of gold during the March quarter, down from the 117 300 oz produced in the December quarter.
For the full year, gold production targets have been narrowed to between 450 000 oz and 470 000 oz, which is still within the original guidance of between 450 000 oz and 500 000 oz, while all-in sustaining cost are expected to reach between A$1 795/oz and A$1 845/oz, up from the previous estimate of between A$1 525/oz and A$1 625/oz.
Growth capital guidance has also increased from between A$180-million and A$190-milllion, to between A$195-million and A$205-million.
“The performance in the March quarter was below expectation, however, we remain on track to deliver the long-term plans for the company,” said MD Jim Beyer.
“Over the last two years we have been investing heavily in our existing operations for a future of growth. We are coming to the end of that investment period and looking forward to entering the cash build phase over the June quarter.”
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