Regis Resources Announces Approval for Havana Gold Project

Regis Resources and AngloGold Ashanti's partnership advances with the approval of the Havana underground gold project development, signaling potential for increased gold production and a positive outlook for the Tropicana site.

Date: 11-09-2024

AI Rating: 7

The report discusses the recent approval of the Havana underground gold project by Regis Resources and its joint venture partner, AngloGold Ashanti. This development indicates possible growth in gold production levels at the Tropicana site, which has already demonstrated strong operational capabilities.

Incremental Gold Production: The approval to develop the Havana project signifies incremental gold production above the existing output at Tropicana. The project is anticipated to leverage the current infrastructure, which should help maintain operational costs.

Mining Costs: It is noted that mining costs for Havana are expected to be similar to those at Tropicana's other underground mining areas. This suggests that operational efficiency may be preserved, allowing for potentially favorable profit margins moving forward.

Future Output: Life-of-mine output from the Havana project is pegged at 55,000 ounces of gold over a three-year production period beginning in Q3 of the 2027 fiscal year. This projection may boost the company's overall revenue in future fiscal years.

Confidence in Growth: The statement from Regis Resources highlights ongoing success in replacing underground ore reserves at the Tropicana site, providing confidence in the long-term sustainability of their operations. This is an encouraging sign for investors looking for stability and growth in the mining sector.

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