Regis Resources Limited · ASX:RRL
Regis Resources — BMO Conference 2024
31 slides from Regis Resources's conference presentation, Feb 26, 2024
Slide 1: A future with growth
A future with growth For personal use only Corporate Presentation 26 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 The Company confirms that it is not aware of any new information or data that materially affects the information included RRL”) and their respective activities and
Slide 3: Exploration Target
Exploration Target Exploration Target at Garden Well (noted on Slide 11) is extracted from ASX release “Mineral Resource and Ore Reserve Statement” dated 20 June 2023. The Exploration Target on the Garden Well underground deposit is based on drilling data up to 30 March 2023. The Exploration Target
Slide 4: Unhedged gold producer with long life assets
Unhedged gold producer with long life assets 10+ years Darwin Strong platform in a tier 1 location McPhillamys • One of Australia’s largest Duketon 6+ years For personal use only NT undeveloped open-pittable gold deposits • Stabilised operational performance • Final key NSW approval QLD • Substantia
Slide 5: 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 US$101M1 • McPhillamys Project • 100% Australian asset
Slide 6: Growing our ESG credentials
Growing our ESG credentials Progressive and measured approach to ESG For personal use only LTIFR Carbon reduction 0.66 Solar farm Female employees Land rehabilitation 21% +270% 9MW solar farm (Duketon) a future with growth 6
Slide 7: December FY24 Half year Results highlights
December FY24 Half year Results highlights Production of Hedge book closed 221koz @ AISC of out For personal use only US$1,386/oz* all production now on guidance unhedged Garden Well Rosemont Tropicana Underground Underground Undergrounds continues to grow continues to grow continues to grow a futur
Slide 8: FY24 half year physical results
FY24 half year physical results Consistent production and on plan to meet guidance Unit H1 FY24 H1 FY23 For personal use only Open pit material moved Mbcm 10.4 12.8 Underground development Metres 7,328 6,243 Ore Mined – open pit Mt 3.1 4.8 Ore mined - underground Mt 1.0 0.6 Total ore mined (open pit
Slide 9: FY24 half year financial results
FY24 half year financial results Strong operating cash flows and closure of hedge book Unit H1 FY24 H1 FY23 Gold production koz 221 232 For personal use only Gold sold koz 211 227 All-in sustaining cost US$/oz 1,386* 1,158 Average realised price US$/oz 1,705 1,541 Sales revenue US$M 360 351 Underlyi
Slide 10: Cash and bullion movements - months to December 2023
Cash and bullion movements - 6 months to 31 December 2023 Operations have strong cash flow and will stand out now unhedged For personal use only Gold sales of 211koz and US$360M in gold revenue Positive cash build of US$59M for H1 FY24 before impacts of hedging Closure of hedge book to improve free
Slide 11: 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 US$60M includes delivery of 57koz into hedge program (US$53M), and final closure of the remaining 63koz ($64M) Profit
Slide 12: 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 EBITDA US$109M Underlying EBITDA margin of 30% EBITDA and Underlying EBITDA include US$53M hedge delivery losses a future with growth 12
Slide 13: 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 US$131/oz of non-cash stockpile AISC (US$/oz) 1,341 – 1,543 1,177 – 1,386 1,305 – 1,514 draw G
Slide 14: Transition to cash build phase in H2 FY24
Transition to cash build phase in H2 FY24 … with accompanying growth in return on investment (ROI) Key steps to delivering the transition to cash build phase in H2 FY24 For personal use only Commercial production at Garden Well underground (Duketon) Commercial production at Havana open pit (Tropican
Slide 15: 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 16: Growth in underground potential
Growth in underground potential Behaving like the “typical” WA underground and replacing Reserves For personal use only a future with growth 16
Slide 17: Duketon has bright future underground
Duketon has bright future underground 300koz+ producer where the transition underground is showing its potential Garden Well in August 2021 - Then For personal use only Garden Well underground mine Surface drill holes indicated continuity commenced with portal and of mineralisation in the north star
Slide 18: Duketon has bright future underground
Duketon has bright future underground 300koz+ producer where the transition underground is showing its potential Garden Well - Now For personal use only Exploration decline into Exploration Target of 0.8 to 1.3Moz Garden Well Main complete established along with first Resource at the northern end a
Slide 19: Duketon underground Reserve development
Duketon underground Reserve development Behaving like the “typical” WA underground and replacing Reserves For personal use only Stage 3 Target Area South Zone Target Area a future with growth 19
Slide 20: Tropicana – a genuine tier asset
Tropicana – a genuine tier 1 asset Long term mine life with no end in sight Strong cash generation over the For personal use only Havana Tropicana life of the mine Boston Shaker Havana South Mine life targeted to 10+ years Underground Reserves outpacing Tropicana Underground depletion Havana South B
Slide 21: Tropicana – a genuine tier asset
Tropicana – a genuine tier 1 asset Long term mine life with no end in sight – testing the extensions For personal use only 31m @ 1.8 35m @ 1.6 a future with growth 21
Slide 22: Tropicana – a genuine tier asset
Tropicana – a genuine tier 1 asset Long term mine life with no end in sight For personal use only Feed from undergrounds increasing year on year Mill throughput at 9-10Mtpa at ~3g/t (25% UG, 75% OP) Open pit feed from Havana commenced in FY23 Commenced exploration drive to evaluate at 1.5g/t reducin
Slide 23: Tropicana – a genuine tier asset
Tropicana – a genuine tier 1 asset Long term mine life with no end in sight For personal use only Potential Mineralisation a future with growth 23
Slide 24: McPhillamys – Australian long life mine and more potential
McPhillamys – Australian long life mine and more potential Top tier project up to 200koz per year over 10+years NSW state IPC determination received in March 2023 Expecting response on Federal Section 10 For personal use only shortly Funding strategy and timing for Final investment decision expected
Slide 25: A future of growth
A future of growth On greenstone belts the longer you explore the more you find For personal use only Kalgoorlie- Norseman Belt Belt Ounces >90% ownership of Laverton Belt 160Moz entire belts 40Moz Yilgarn Craton Leonora -Wiluna Murchison Belt 32Moz 32Moz Albany Fraser Southern Archean Belt Cross 15
Slide 26: Duketon regional geology
Duketon regional geology Another highly prospective greenstone belt in the goldfields The Archean Duketon Greenstone belt is a 100 x 50 km geological domain with strong affinities to the highly gold endowed Laverton Greenstone Belt to the south For personal use only Gloster Multiple gold mineralisat
Slide 27: Tropicana regional geology
Tropicana regional geology Another highly prospective greenstone belt in the goldfields Tropicana discovery opened a new greenstone belt For personal use only Tenement package is still relatively underexplored Angel Eyes, Rosetta and Double Vision prospects which are within 10km of the Tropicana Gol
Slide 28: 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 29: Further information
For personal use only Further information Investor Relations + 61 8 9442 2200
Slide 30: Reserve Table
Reserve Table ORE RESERVES as at 31 December 2022 (Regis Attributable) 3 Gold Proved Probable Total Ore Reserve Competent Person Gold Gold Gold Cut-Off Tonnes Gold Metal Tonnes Gold Metal Tonnes Gold Metal Project1 Equity Type 2 Grade Grade Grade (g/t) (Mt) (koz) (Mt) (koz) (Mt) (koz) For personal u
Slide 31: Resource Table
Resource Table MINERAL RESOURCES as at 31 December 2022 (Regis Attributable) Gold Measured Indicated Inferred Total Resource Competent Person2 Gold Gold Gold Gold Gold Gold Gold Gold 1 Cut-Off Tonnes Tonnes Tonnes Tonnes Project Equity Type Grade Metal Grade Metal Grade Metal Grade Metal (g/t) (Mt)