leadf
logo-loader
viewRegis Resources Ltd

Regis Resources to forge ahead with expansion at Duketon gold project , targets 15c dividend

au_gold_ignot_350_51d655cbdde82.jpg

Regis Resources (ASX:RRL) is pushing ahead with plant expansion at Duketon project near Laverton, once stage 2 development is complete operating costs (before royalties) are forecast at just A$630 – 680 per ounce for the whole project.

This comes at a time when many gold producers are pulling in their horns due to the lower prevailing gold price.

The additional $20 million capital cost of the Rosemont Stage 2 development and the remaining $28.5 million to be spent on the current development will be funded out of operating cashflow.

Once Rosemont stage 2 development is complete this should result in a long term production rate for the whole Duketon Gold Project (including Moolart Well) of between 410,000 – 430,000 ounces of gold per annum.

Gold production for the June 2013 quarter was 72,134 ounces.

Regis is targeting a 15 cent per share fully franked dividend in relation to the 2013 financial year which would place the stock on a very healthy dividend yield of 4.4%.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Regis Resources Ltd

Price: 5.22 AUD

ASX:RRL
Market: ASX
Market Cap: $2.66 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

FastForward Innovations on FCA's green light to medical cannabis listings...

FastForward Innovations Limited's (LON:FFWD) Ed McDermott talks to Proactive London about the FCA's new approach to medical cannabis and as the 'only AIM listed company that has had direct investment in cannabis' this is very significant for the firm. As Mcderrmott explains the UK’s financial...

50 minutes ago

2 min read