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RRL - Regis Resources

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Selected to gain value in 2024.

RRL is now a no debt, recently unhedged gold producer. Certainly being rerated higher as I post this. Should make new yearly highs in 2024. I've already bought the lows, just have to hold on now.

 
i hope you are correct i hold RRL but missed the lowest lows
 
Jan 24 update: Price has drifted lower with the POG, but remains relatively strong against other gold miners.

Dec 23 Qtrly report: Production 109.2 koz, AISC $2133/oz - consistent with guidance

Hedge book completely closed out (with loss of $40M - idiots), allowing Regis to realise more cash at existing gold prices.
 
Trading Halt Request –


ASX Code RRL Regis Resources Ltd (ASX: RRL) (Regis) requests that its securities (ASX Code: RRL) be placed in a trading halt under ASX Listings Rule 17.1, effective immediately on Thursday, 1 February 2024.

The trading halt is requested pending an announcement regarding the commencement of proceedings claiming a royalty applies in relation to the Tropicana Gold Project (Claim).

Regis requests that the trading halt continue until the earlier of Regis releasing an announcement in relation to the Claim or the commencement of trading on Monday, 5 February 2024. Regis is not aware of any reason why the trading halt should not be granted.

This request has been authorised for provision to the ASX by the Managing Director and CEO.

Please contact me if you require further information concerning this matter.

Yours sincerely Elena Macrides Company Secretary

caution this may impact , IGO ( the former stake-holder in Tropicana ) RND and TBR current minor stake-holder's in Tropicana , and of course RRL

i hold RRL , RND and IGO
 
Shooting from the hip but that majority owner individual from TBR and RND is a litigious prick. He took on NST over a disputed royalty I think. I've probably got it wrong, having a garrulous day

Held
 
Wouldn't it be just great if the superlative management of RRL left itself open to a royalty claim in addition to their desperate overpaying for the Tropican share.
 
Tropicana Gold Mine Royalty Claim

Regis Resources Ltd (ASX: RRL) (Regis) notes IGO’s announcement (IGO Announcement) of today’s date advising that South32 Limited (ASX: S32) (South32) has commenced proceedings against IGO Ltd (ASX:IGO) (IGO) in the Supreme Court of Western Australia (Supreme Court Proceedings).

In substance, South32 is seeking a court declaration in relation to the interpretation of the Agreement for the Sale of Assets and Mining Tenements dated 1 August 1997 (as subsequently amended, assigned or novated) (the Royalty Agreement).

Regis understands that South32 alleges that properly interpreted, it is owed royalty payments under the Royalty Agreement at the rate of 1.5% of gross revenue from 100% of production from the Tropicana Gold Project, and is also seeking interest and costs.

IGO, being the current counterparty to the Royalty Agreement, has announced that it disputes the allegations and intends to strongly defend the claim.

Regis is not a party to the Royalty Agreement or the Supreme Court Proceedings.

However, Regis is interested in the outcome of the Supreme Court Proceedings because there is overlap in the area over which South32 is claiming a royalty is payable, and the Tropicana Gold Project.

Under the Asset Sale Agreement for the 30% interest in the Tropicana Gold Project between Regis, a wholly owned subsidiary of Regis (AFB Resources Pty Ltd) and IGO, Regis assumed liability for the royalty to the extent it may apply to any of the Tropicana Gold Project after its acquisition (Transferred Royalty).

Also, under the Asset Sale Agreement Regis agreed to indemnify IGO for liability arising in relation to the Transferred Royalty on the terms of the Asset Sale Agreement.

Regis’ view at the time of the acquisition was, and remains, that no amount is due under the Royalty Agreement in respect of current operations at the Tropicana Gold Project, and Regis intends to take appropriate action to protect its position.

For further information please contact: Investor Relations Enquiries: Regis Resources Limited T: +61 8 9442 2200 E: enquiries@regisresources.com

i hold RRL , IGO , S32 , RND and BHP ( who apparently had no complaints until it spun off S32 )
 
March 2024 update: RRL share finally reacts to the gold price rally. It's been a notable laggard lately indicating poor investor sentiment.

Sentiment is likely poor due to the current above average rainfall in Qld. This rainfall has closed the roads in Laverton shire that provides access to the Duketon mine.

Rainfall has also closed the supply road between Kalgoolie and RRL's Tropicana mine (WA).

Production is forecast to be at the bottom of the guidance range.
 
Laverton is in the lower middle part of WA, I was one of the crew that assembled the steel for the mine.


 
April 24 update: Price has finally started to move higher along with the strong rally in the POG.

Regis delivered its 1st qtr of unhedged gold production since the hedge book closure, selling 99koz at and ave price of A$3126/oz).
They should be able to get more next qtr.

Average AISC costs of Duketon and Tropicana is A$2735/oz. Very ordinary.

Costs pushed up by planned maintenance activities and cleanup after protracted rain events.
 
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