Full Year 2024 Regis Resources Ltd Earnings Call Transcript
Key Points
- Regis Resources Ltd (RGRNF) achieved record cash and bullion of $295 million.
- The company generated a record operating cash flow of $475 million.
- Regis Resources Ltd (RGRNF) delivered an underlying net profit before tax of $106 million.
- The company successfully closed out its hedge book, significantly improving profitability.
- Strong ESG outcomes were achieved, including safety, diversity, workplace culture, and decarbonization efforts.
- The Section 10 declaration over the McPhillamys Project led to a $192 million impairment.
- Regis Resources Ltd (RGRNF) had to withdraw the outcomes of the recently released DFS for McPhillamys.
- The company's group oil reserves were reduced from 1.89 million ounces to zero due to the Section 10 decision.
- The decision impacted the socio-economic benefits expected for the Blayney community, including job creation and infrastructure upgrades.
- The company faces uncertainty and potential legal challenges related to the Section 10 declaration.
Thanks, Ryan, and thanks, everybody, for joining us. Good morning. I would point out that we have released our results. There is a Word document along with the PowerPoint slide that we will be referring to so that you can keep up.
So thanks for joining us on the FY24 results. In the room with me, I'm joined by our CFO, Anthony Rechichi; our Chief Operating Officer, Michael Holmes; and our Head of Investor Relations and External Affairs, Jeff Sansom.
Pardon me. I'll also point out our release yesterday afternoon that's related to the immediate impacts of Minister Plibersek's declaration of a Section 10 over the McPhillamys Project. I'll touch on this briefly now as there are implications of this decision that have been reflected in our accounts.
But firstly, I'd note we continue to assess all legal options available to respond to this decision, and we'll be chasing every one of these. As I've said before, Minister Minister Plibersek's decision did take us by surprise, and it has
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