Strong First-Half Results for Regis Resources; Maintaining AUD 1.90 Fair Value Estimate
We maintain our AUD 1.90 per share fair value estimate after the first-half fiscal 2017 result. Net profit after tax increased by one third to AUD 61 million on the higher realised gold price, up 12% to AUD 1,742 per ounce, and an unexpected reduction in depreciation and amortisation. At the EBITDA level, the result was close to our expectations, up 16% on a year ago to AUD 113 million. Lower gold sales volumes were a partial offset to the higher realised price, declining 8% to 145,700 ounces du...Regis Resources is a gold producer. Co. and its controlled entities are engaged in the production of gold from the Duketon Gold Project; exploration, evaluation and development of gold projects in the Eastern Goldfields of Western Australia; and exploration and evaluation of the McPhillamys Gold Project in New South Wales. Co. has two reportable segments which comprise the Duketon Gold Project; being Duketon North Operations, comprising the Moolart Well Gold Mine, and Duketon South Operations, incorporating the Garden Well Gold Mine and the Rosemont Gold Mine.
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