Ann: Regis grows cash and bullion by a record $109M in Q4FY24, page-74

Great post @LambDownUnder. I particularly agree with this part:

I think Regis have been pinning growth hopes on McP the last few years and have gotten lazy with increasing reserves at Duketon. As it stands now DNO is essentially finished as of end of last quarter. and we will be left with Duketon south. We have almost 2Moz of resources. I am not a geologist but do have some on the ground mining experience, and also keeping in mind the gold price assumptions and grade cut off for reserves, while nothing is 100% I do think Regis will be able to grow reserves at Duketon for some time.

Well said on all counts. You may be right about pushing underground and continuing to find stuff, that's what others have done as well. However trying to pass it off as 'a future with growth' as they do is a cheap marketing ploy and not fooling anybody. PRU showed it when Meyan Sands went down the gurgler (for good reason) - if you're a goldie without a growth project, the market immediately looks elsewhere.