Regis Resources Limited · ASX:RRL
Regis Resources — H1 FY24 Earnings Presentation
13 slides from Regis Resources's earnings presentation, Feb 22, 2024
Slide 1: A future with growth: FY24 Half Year Financial Results
A future with growth For personal use only FY24 Half Year Financial Results Jim Beyer – Managing Director and CEO Anthony Rechichi – Chief Financial Officer 22 February 2024
Slide 2: Cautionary statement
Cautionary statement This presentation contains only a brief overview of Regis Resources Limited and its associated entities (“Regis or RRL”) The Company confirms that it is not aware of any new information or data that materially affects the information included and their respective activities and
Slide 3: Investment highlights
Investment highlights Unhedged producer with improving cash flows and multiple growth options For personal use only High quality portfolio Strong financial platform Organic growth projects • Pathway to 500koz/year • 31 Dec 2023 Cash & Bullion of $155M1 • McPhillamys Project • 100% Australian assets
Slide 4: FY24 half year physical results
FY24 half year physical results Consistent production and on plan to meet guidance Unit H1 FY24 H1 FY23 For personal use only Open pit material moved Mbcm 10.4 12.8 Underground development Metres 7,328 6,243 Ore Mined – open pit Mt 3.1 4.8 Ore mined - underground Mt 1.0 0.6 Total ore mined (open pit
Slide 5: FY24 half year financial results
FY24 half year financial results Strong operating cash flows and closure of hedge book Unit H1 FY24 H1 FY23 Gold production koz 221 232 For personal use only Gold sold koz 211 227 All-in sustaining cost $/oz 2,1191 1,771 Average realised price $/oz 2,607 2,357 Sales revenue $M 550 536 Underlying EBI
Slide 6: Cash and bullion movements - months to December 2023
Cash and bullion movements - 6 months to 31 December 2023 Operations have strong cash flow and are now unhedged For personal use only Gold sales of 211koz and $550M in gold revenue Positive cash build of $90M for H1 FY24 before impacts of hedging Closure of hedge book to improve free cash flow in H2
Slide 7: Income statement analysis - months to December 2023
Income statement analysis - 6 months to 31 December 2023 Analysis of the Pre-Hedging NPBT reflects the strength of the business For personal use only Statutory net loss after tax of $92M includes delivery of 57koz into hedge program ($81M), and final closure of the remaining 63koz ($98M) Profit befo
Slide 8: EBITDA - months to December 2023
EBITDA - 6 months to 31 December 2023 H2 EBITDA set to significantly improve with no further hedging obligations For personal use only Underlying EBITDA1 $167M Underlying EBITDA margin of 30% EBITDA and Underlying EBITDA include $81M hedge delivery losses a future with growth 8 1 EBITDA adjusted to
Slide 9: FY24 guidance maintained
FY24 guidance maintained A disciplined production plan Operation Duketon Tropicana (30%) Group For personal use only Focus for profitable ounces Production (koz) 280 – 305 135 – 150 415 – 455 AISC includes $200/oz of non-cash stockpile draw AISC ($/oz) 2,050 - 2,360 1,800 - 2,120 1,995 - 2,315 Duket
Slide 10: The pathway to 500koz per year with margin
The pathway to 500koz per year with margin A business with scale and multiple organic growth options Target 500koz For personal use only • Ramp up and optimise undergrounds Duketon • Grow Garden Well Reserve and expand production 200-2501koz • Rolling Reserve replacement • Ramp up Havana open pit an
Slide 11: McPhillamys – long life mine and more potential
McPhillamys – long life mine and more potential Top tier project producing up to 200koz per year over 10+years in Australia For personal use only NSW state IPC determination received in March 2023 Expecting response on Federal Section 10 shortly Funding strategy and timing for Final investment decis
Slide 12: The investment case
The investment case Strong financial platform with robust operating cash flows For personal use only Scale and leverage to gold price Consistent plan delivery Dominant positions on prospective gold belt Cash flow inflection point hit with hedge book removed Growth project with scale and optionality
Slide 13: Further information
For personal use only Further information Investor Relations + 61 8 9442 2200