Regis Resources Ltd
Regis Resources is an ASX-listed gold producer whose core assets are the 100%-owned Duketon Gold Project (North Eastern Goldfields, WA) and a 30% joint-venture interest in the Tropicana Gold Mine (WA, operated by AngloGold Ashanti). FY26 (year ended 30 June 2026) group production reached 379koz (Duketon 236koz, Tropicana 143.1koz -- both at or above guidance) at a group AISC of A$2,945/oz, with a record debt-free cash-and-bullion position of A$1.18B (up A$667M during the year despite A$151M of dividends and A$156M of tax payments). FY27 guidance is 360-400koz group production at an AISC of A$2,990-3,390/oz. The company's growth project, McPhillamys (NSW, 100%-owned), cleared a major hurdle in mid-2026 when a new Pre-Feasibility Study identified an alternative filtered-tailings/integrated-waste-landform strategy that bypasses a 2024 federal Aboriginal heritage declaration that had blocked the original tailings storage facility design -- allowing Regis to reinstate the McPhillamys Ore Reserve at 56Mt / 1.89Moz gold. The PFS shows a post-tax NPV of A$1.13B and 21.8% IRR (at an A$4,000/oz gold price assumption), 190koz/yr average production over the first 9 of 9.4 total mine-life years, and A$1.08B pre-production capex; final investment decision is targeted for H1 CY2028. Jim Beyer is Managing Director and CEO.
Notable vs. Peers
- Financials score of 9.9/10 is stronger than the peer average of 6.5/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Jan 2010 · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: grid power.
Not in place: grid power. Not yet determined: road access.
Not in place: mill, tailings facility, road access, grid power.
Combined view across 3 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 21.8%McPhillamys Gold Project
- 6 yrsTropicana Gold Mine
- 9.4 yrsMcPhillamys Gold Project
Shown as separate totals, not summed together: these projects' studies used different discount rates, so a single combined NPV would not be a real number.
Jurisdiction (40%)9/10
Western Australia: Fraser PPI 2025 is 88.53 of 100 (rank 13 of 68), which maps to 9 on this site's scale. All operations in Western Australia (Duketon, Tropicana) and New South Wales (McPhillamys, in PFS-stage development) -- Tier-1 mining jurisdiction throughout.
Infrastructure (40%)7.1/10
A confirmed mill, confirmed road access, no confirmed grid power, and a confirmed tailings facility at Duketon Gold Project.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Granny Smith (Gold Fields Limited), 102 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:3.3/10
Nearest producing mine: Granny Smith (Gold Fields Limited), 102 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Managing Director and Chief Executive Officer of Regis Resources Ltd since 2018. Qualified mining engineer with 30 years of broad strategic, operating and start-up experience. General Manager of Pajingo Gold Mine (2004-2006) and Boddington Gold Mine (2007-2010); Chief Executive Officer of Mt Gibson Iron Limited (2012-2018), immediately before joining Regis. President of the Executive Council of the Association of Mining & Exploration Companies (AMEC). Bachelor of Engineering (Mining); Masters of Geoscience (Mineral Economics).
Chief Operating Officer of Regis Resources Ltd, effective 1 Nov 2023 (announced 12 Oct 2023), succeeding Stuart Gula. Mining engineer with nearly 40 years' experience across Australia, Argentina, New Zealand, the Philippines and the United States. Immediately before Regis, President and Chief Executive Officer of OceanaGold Corporation from 2020, having joined as Chief Operating Officer in Jul 2012. Before that, 10 years with Xstrata Copper as General Manager of the Minera Alumbrera operations (Argentina) and the Mount Isa Copper Operations (Queensland). BEng (Mining), University of Queensland; Fellow, Australian Institute of Mining and Metallurgy.
Fellow member of Chartered Accountants Australia and New Zealand, with over 20 years of senior accounting and finance experience in public companies and professional services, predominantly in the gold mining industry. CFO of Wiluna Mining Limited for approximately 5 years, immediately before Regis. Career began at PwC (Manager, Assurance division).
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
One dedicated precious-metals fund is on the register -- the USAA Precious Metals & Minerals Fund -- but at 0.53% it is a token position rather than a bet. Everything else is index or generic international small-cap money: VanEck's two gold ETFs at a combined 9.2%, Vanguard, iShares, Dimensional and Bernstein. Regis once had a producer as its dominant holder, Newmont at about 47%, but that stake was fully sold down by March 2016 and the five substantial shareholders on the register today are all passive index managers. Directors have not bought on-market in the last year -- the share movements on file are performance rights vesting, not purchases. The fund holdings above were last refreshed in 2020-2021.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Regis Resources produces gold from the 100%-owned Duketon Gold Project in Western Australia's North Eastern Goldfields and from its 30% interest in the Tropicana mine, which AngloGold Ashanti operates and owns 70% of. Its attributable resource at 31 December 2025 is 6,570,000 oz of gold in measured and indicated resources (790,000 oz measured, 5,780,000 oz indicated), inclusive of reserves, plus 1,700,000 oz inferred. FY2026 production (the year to 30 June 2026) was 379,000 oz (Duketon 236,000 oz, Tropicana 143,100 oz) at a group all-in sustaining cost of US$2,070/oz (AUD 2,945/oz). A June 2026 pre-feasibility study for the 100%-owned McPhillamys project in New South Wales found a tailings design that avoids a 2024 federal heritage declaration, reinstating a 1.89 Moz ore reserve; it shows a post-tax NPV of US$794M (AUD 1.13B), a 21.8% IRR and a 9.4-year life at an A$4,000/oz gold price, with a final investment decision targeted for the first half of 2028. In July 2026 Regis ended its agreed scheme with Vault Minerals after declining to match Genesis Minerals' superior proposal for Vault, and it expects a break fee of about A$50.7M.