Ann: Regis grows cash and bullion by a record $109M in Q4FY24, page-75

also dont forget, that while McP might be parked for now, it still has value and a call option on a new region. i dont want it touched for a bit given capex costs. but in a cppl yrs once duketon proved up a bit more, healthy cash in the bank it could be worth doing. potentially with a partner to still soften capex hit.

Im sure none of us are invested in the sector because we see a 2500/oz aud gold price in the future.

project economics of McP start to stack up very healthily in a continued high gold price environment. And the initial LOM plan for McP is very likely only the foot in the door of a larger reserve.

next 12-18 months focus on building cash and converting more of those resources into reserves at Duketon. No dividend, at these prices do what NST did a couple of yrs ago, do a buyback.