Ann: Change to Hedging Structure, page-93

"So yes, the hedged gold, is literally, losing RRL money and has been for a long time."

As much as I prefer to look on AIC instead of AISC I would not do that regarding hedging prices.
Argument for that thesis:
The exploration/non-sustaining cost are only undertaken/incurred because any additional production can be sold @ AUD 2.450. Those non-sustaining costs would be held much lower if the gold price were still at AUD 1.600/oz (because investment/Capex-decisions are naturally driven by the product price)

As per report on quarterly acivites (March-quarter), page 5, guidance for FY 20/21 regarding growth capital and exploration was 88-98 million.

Calculating coming from profit before tax Regis showed earnings of AUD 123 Mio. for July-December/2020 with 173k ounces sold and an average price realized of AUD 2.317/oz. So all costs in per half year report for FY2020/2021 they are showing earnings of 712 AUD/oz (and AIC of AUD 1.606).