Regis Resources Ltd
Regis Resources Limited (ASX: RRL) is a publicly listed Perth based Australian gold production and exploration company with a proven management team that has a successful track record of developing mid-sized gold operations within Australia and Africa.
The Company operates at its 100% owned Duketon Gold Project, 130 kilometres north of Laverton in Western Australia and holds a suite of prospective exploration projects in the area.
The Duketon Gold Project commenced operations in August 2010 following the construction of the Moolart Well Gold Mine. Annual production at Moolart Well is expected to average approximately 90,000 ounces over a six year mine life. The Company is confident that Moolart Well offers further Reserve and Resource growth potential from continued exploration programmes in the area.
In November 2009, the Company embarked on a successful drilling campaign to follow up several gold anomalies found in late 2008. This drilling campaign culminated in the exciting discovery of the Garden Well deposit located just 30 kilometres south of Regis’ operating Moolart Well Gold mine.
In June 2011, the Company announced the completion of a definitive feasibility study in to the development of the Garden Well Gold Project. The project is expected to have a life of 9 years producing on average 180,000 ounces of gold per annum from current Reserves.
The Company commenced construction of the Garden Well Gold Project in the September 2011 quarter and commissioning and first gold production is scheduled for the September 2012 quarter.
The Company also possesses a number of satellite deposits surrounding both Moolart Well and Garden Well which contain quoted JORC Reserves and Resources including the Rosemont gold deposit and the Erlistoun gold deposit.
Regis Resources Limited (ASX: RRL) is a Perth based Australian gold production and exploration company with a proven management team that has a successful track record of developing gold projects in Australia and Africa.
The Company operates at its 100% owned Duketon Gold Project, 130 kilometres north of Laverton in Western Australia and holds a suite of prospective exploration projects in the area.
The Duketon Gold Project commenced operations in August 2010 following the construction of the Moolart Well Gold Mine. Annual gold production at Moolart Well is currently 105,000, with a six year mine life remaining. The Company believes that Moolart Well offers further Reserve and Resource growth potential from continued exploration programmes in the area.
Exploration drilling in November 2009 culminated in the exciting discovery of the Garden Well gold deposit located just 30 kilmetres south of Regis' operating Moolart Well Gold Mine. The Resource at Garden Well is 2.6 million ounces and the deposit is still open to the south and at depth.
The Company commenced construction of the Garden Well Gold Project in the September 2011 quarter with commissioning and first gold production scheduled for the September 2012 quarter. The capital cost of the development is forecast at $109 million. The project is expected to have a life of mine of 9 years producing on average 180,000 ounces of gold per annum at a cash cost of $555/oz from current Reserves of 1.7 million ounces.
In November 2011 the Company announced a maiden Reserve at its Rosemont gold deposit of 487,000 ounces. The Rosemont gold deposit is located within 10 kilometres of Garden Well. The magnitude of the maiden Reserve is such that all development options will be considered as part of detailed feasibility studies expected to be commenced shortly with a view to expediting production from the project.
Gold production is forecast at around 350,000 ounces for 2012/13 and above 400,000 ounces in 2013/14.
The Company also has a number of satellite deposits surrounding both Moolart Well and Garden Well which contain quoted JORC Resources. The Company is actively drilling these deposits as part of an overall Resource conversion campaign.
