Regis Resources Limited · ASX:RRL
Regis Resources — H1 FY2022 Earnings Presentation
17 slides from Regis Resources's earnings presentation, Feb 22, 2022
Slide 1: FY22 Half Year Financial Results
FY22 Half Year Financial Results – 22 February 2022 JIM BEYER – Managing Director & CEO & JON LATTO – Chief Financial Officer ASX:RRL
Slide 2: Cautionary Statement
2 CAUTIONARY STATEMENT This presentation contains only a brief overview of Regis Resources Limited and its associated subsequent releases by the Company of the same information in the same form and context, entities (“Regis or RRL") and their respective activities and operations. The contents of thi
Slide 3: FY22 Half Year Highlights
3 FY22 HALF YEAR HIGHLIGHTS EBITDA EBITDA MARGIN A$196M 40% Cash flow from Cash & Bullion Underlying NPAT operating activities A$180m1 A$44m A$136m 1. Includes bullion on hand valued at $2,508 per ounce
Slide 4: FY22 Half Year ESG Highlights
4 FY22 HALF YEAR ESG HIGHLIGHTS Good progress made against FY22 commitments Looking after our people Lost Time Injury Frequency Rate (LTIFR 12MMA) at 1.3– 35% below the industry average Proactive COVID management – Zero confirmed cases within the business 27% of executive and managerial positions he
Slide 5: FY2022 Half Year Financial Results
5 FY2022 HALF YEAR FINANCIAL RESULTS Revenue increase reflects new scale of H1 FY2022 H1 FY2021 business Unit 31 Dec 2021 31 Dec 2020 Production Ounces Produced oz 210,270 172,977 Ounces Sold oz 216,651 172,990 All-in Sustaining Cost $/oz 1,527 1,356 Average Realised Price $/oz 2,256 2,317 EBITDA ma
Slide 6: Operating Cash Flow Metrics Remain Strong
6 OPERATING CASH FLOW METRICS REMAIN STRONG Expecting a stronger H2 FY22 Revenue ($M) Cash Flow from Operations ($M) 196 489 401 418 371 386 149 147 148 338 129 136 317 126 2019 H1 2019 H2 2020 H1 2020 H2 2021 H1 2021 H2 2022 H1 2019 H1 2019 H2 2020 H1 2020 H2 2021 H1 2021 H2 2022 H1 EBITDA ($M) EBI
Slide 7: Net Profit After Tax
7 NET PROFIT AFTER TAX Increased D&A attributed to Tropicana and increased mining related amortisation at Duketon $221m ($149m) ($5m) $44m ($23m) $26m ($18m) Underlying EBITDA D&A Interest Tax Underlying NPAT Non-cash inventory 1 Statutory NPAT Dec-21 Dec-21 adjustment Dec-21 1 Estimated post tax im
Slide 8: Cash Flow
8 CASH FLOW Operating cash flow re-invested to support strategic objectives Movement in Cash and Bullion on Hand $175m ($117m) $269m ($33m) $244m ($35m) ($14m) ($12m) ($22m) $180m ($31m) Jun-21 Operations Capitalised Exploration Other capex Corporate Dec-21 Interest & residual Cash Income tax Dec-21
Slide 9: Balance Sheet
9 BALANCE SHEET Cash balance of $180M1 as at 31 December 2021 $23M tax refund received post 31 December 2021 Expecting additional tax refund of ≈$12M in H2 FY22 Net debt of $120M2 as at 31 December 2021 $300M corporate bank debt maturing late in Q4 2024 Refinancing options being considered as part o
Slide 10: Guidance for FY22
10 GUIDANCE FOR FY22 Operation Duketon3 Tropicana (30%) Group Production (koz) 300 – 340 120 – 135 420 – 475 AISC (A$/oz) 1,540 - 1,610 1,140 - 1,230 1,425 - 1,500 Growth Capital (A$M)1 85 - 90 70 - 75 155 - 165 Exploration and 35 8 722 McPhillamys(A$M) Expecting a stronger second half with increase
Slide 11: A Future of Growth
11 A FUTURE OF GROWTH Dominant positions in highly prospective belts Position of Strength Strong Balance Sheet Cash generating assets in a Tier 1 location Strategic positions on large under-explored belts Duketon Belt 10Moz Long-term operational optionality with 3 mills at Duketon and belt dominance
Slide 12: A Future of Growth: It's just the beginning
12 A FUTURE OF GROWTH It’s just the beginning… Kalgoorlie- Norseman Belt Laverton Belt 160Moz 40Moz Belt Ounces Leonora- Wiluna Murchison Belt 32Moz 32Moz Albany Fraser Belt Southern (Tropicana) Cross Yilgarn Craton 15Moz 10Moz 10Moz Duketon Belt (Duketon) Yamarna Belt 7Moz 10years 20years 30years 4
Slide 13: Additional Financial Information
Additional Financial Information
Slide 14: FY2022 Half Year – Profit & Loss
14 FY2022 HALF YEAR – Profit & Loss 31 December 2021 31 December 2020 $’000 $’000 Revenue 488,790 401,045 Cost of goods sold (427,245) (266,569) Gross profit 61,545 134,476 Other income 49 14 Investor and corporate costs (3,969) (1,785) Personnel costs & share-based payment expense (8,746) (8,249) O
Slide 15: FY2022 Half Year – Cash Flow Statement
FY2022 HALF YEAR – Cash Flow Statement 15 31 December 2021 31 December 2020 $’000 $’000 Cash flows from operating activities Receipts from gold sales 492,119 400,880 Payments to suppliers and employees (322,088) (212,426) Net interest paid and other (3,640) (412) Income tax paid (30,508) (40,269) Ne
Slide 16: FY2022 Half Year – Balance Sheet and Hedge book
16 FY2022 HALF YEAR – Balance Sheet and Hedge book 31 December 2021 30 June 2021 $’000 $’000 Current assets Cash and cash equivalents 164,425 242,627 Inventories 211,719 161,475 Hedge Financial Price Other current assets 56,862 19,088 Delivery Qtr ($AUS/oz) Total current assets 433,006 423,190 (koz)
Slide 17: Further information: Investor Relations
Further information: Ben Goldbloom| Head of Investor Relations + 61 8 9442 2200