During the quarter, Regis drew down $10 million of its financing facility with Macquarie Bank to help fund the capital expenditure commitments of the Company’s projects. These expenditures included $10.5 million to complete Rosemont stage 1 development, $3.2 million on Rosemont stage 2 development, $19.9 million on Rosemont pre-production expenditure, and $11.7 million on Garden Well prestrip mining. These expenditures will reduce significantly over the coming quarters.
Regis completed a strong quarter of operations at the Moolart Well Gold Mine producing 26,506 ounces of gold at a pre-royalty cash cost of production of A$566 per ounce. Operating costs were 6% lower than the previous quarter due to an 8% higher milled head grade. Gold production for the half year ended 31 December 2013 was 51,909 ounces at a pre-royalty cash cost of $585 per ounces.
RRL Price at posting:
$2.70 Sentiment: Buy Disclosure: Held
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