REGIS Resources is not expecting the current coronavirus restrictions across Australia to cause any significant delays to the McPhillamys project in NSW.
Of five major approval phases, three remain, including a response to submissions by Regis (expected mid-2020), assessment by the Department of Planning, Industry and Environment, and an independent planning commission public hearing decision.
The final decision for the McPhillamys project is expected in the first half of 2021.
In its latest quarterly report, Regis managing director Jim Beyer said the operation performed solidly despite the pandemic, producing 86,300oz of gold for the period.
While down on the December quarter’s 90,849oz, cash flow from operations increased by $7.4m to $107.4m and the company’s full-year guidance remains unchanged at 340,000-370,000oz.
“I am very pleased to see the good progress with our McPhillamys Gold Project and also at the Rosemont Underground Project where we are commencing stope production,” Mr Beyer said.
“Our potential Garden Well Underground Project is also proceeding through to completion of a PFS.
“Overall Regis remains in a strong position to weather the COVID-19 related uncertain economic environment.
“This is due in no small part to the hard work and effort of our staff, contractors and our families to help manage this challenging time.”
To date there have been no confirmed cases of COVID-19 across the business.
To assist communities in WA to deal with the ongoing impacts of COVID-19, Regis has joined with fellow resource companies in providing financial support to the WA Royal Flying Doctor Service, Foodbank WA and Lifeline WA through the Chamber of Minerals and Energy Community Support Fund.
