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2026-11-06
◂ Monitor RRL ASX

Regis Resources Limited

Producer · Gold · Australia Rating locked: sign in to view v8 · rrl-20261024t185742-full
Last 2026-11-06
A$6.63
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$5B
EV
A$4B
Cash
A$1.2B
Debt
A$0
2 newer ASX announcements not yet reflected in this valuation

Funding, performance and ownership

Financials & Capital

As of 2026-09-30
Cash A$1.2B2026-06-30: 1,139,119,000 A$2026-09-30: 1,169,761,824 A$ Self Funding
Debt A$0 Net cash A$1.2B
Basic shares 758.7M 2026-08-27
Runway Self Funding Positive audited operating cash flow; full nominal forecast and conditional stress financing retained in model workpaper.

Liquidity

Financial position

30September reported cash+bullion AUD1.28b less18,416oz at5986/oz gives cash AUD1,169,761,824. October dividend and estimated intervening recurring cash are separately bridged in valuation. No reliance on the undrawn300m facility without sourced expiry and covenant headroom.

Inventory composition1

BullionA$110.238176 m atA$5,986/oz; includedincash+bullionheadlinetotal. Operatingstockpiles/goldincircuitexcludedfromequityadditiontopreventdoublecount.

Gold bullion on hand 30 September 2026
— carrying · 18,416 oz Au

Capital structure

Ownership and dilution

Ordinary shares
758.7M
Fully diluted
761.8M

758,696,364 ordinary shares following1,308,233 rights conversion; remaining3,501,685 rights less369,397 lapse =3,132,288 zero-strike rights. Fully diluted761,828,652 shares, no exercise proceeds. Concurrent automated3H totals lag quotation processing.

Security classes2
ClassTypeQuantityStrikeExpiry
Ordinary fully paidOrdinary Share758.7M——
Performance rights afterconcurrentconversionandlapsePerformance Right3.1MA$0—

KPI history

Operating metrics

Source values by period
Operating metric source table41
MetricProjectPeriodPeriod typeValueStatus
Quarter ended 2024-09-30 productionDuketonQuarter ended 2024-09-30Quarter57,501 oz AuReported
Quarter ended 2024-09-30 productionTropicanaQuarter ended 2024-09-30Quarter37,006 oz AuReported
Quarter ended 2024-09-30 productionCompanyQuarter ended 2024-09-30Quarter94,507 oz AuSource Derived
Quarter ended 2024-12-31 productionDuketonQuarter ended 2024-12-31Quarter58,275 oz AuReported
Quarter ended 2024-12-31 productionTropicanaQuarter ended 2024-12-31Quarter43,019 oz AuReported
Quarter ended 2024-12-31 productionCompanyQuarter ended 2024-12-31Quarter101,294 oz AuSource Derived
Quarter ended 2025-03-31 productionDuketonQuarter ended 2025-03-31Quarter58,087 oz AuReported
Quarter ended 2025-03-31 productionTropicanaQuarter ended 2025-03-31Quarter31,580 oz AuReported
Quarter ended 2025-03-31 productionCompanyQuarter ended 2025-03-31Quarter89,667 oz AuSource Derived
Quarter ended 2025-06-30 productionDuketonQuarter ended 2025-06-30Quarter59,242 oz AuReported
Quarter ended 2025-06-30 productionTropicanaQuarter ended 2025-06-30Quarter28,134 oz AuReported
Quarter ended 2025-06-30 productionCompanyQuarter ended 2025-06-30Quarter87,376 oz AuSource Derived
Quarter ended 2025-09-30 productionDuketonQuarter ended 2025-09-30Quarter58,429 oz AuReported
Quarter ended 2025-09-30 productionTropicanaQuarter ended 2025-09-30Quarter31,932 oz AuReported
Quarter ended 2025-09-30 productionCompanyQuarter ended 2025-09-30Quarter90,361 oz AuSource Derived
Quarter ended 2025-12-31 productionDuketonQuarter ended 2025-12-31Quarter57,557 oz AuReported
Quarter ended 2025-12-31 productionTropicanaQuarter ended 2025-12-31Quarter38,998 oz AuReported
Quarter ended 2025-12-31 productionCompanyQuarter ended 2025-12-31Quarter96,555 oz AuSource Derived
Quarter ended 2026-03-31 productionDuketonQuarter ended 2026-03-31Quarter57,514 oz AuReported
Quarter ended 2026-03-31 productionTropicanaQuarter ended 2026-03-31Quarter33,078 oz AuReported
Quarter ended 2026-03-31 productionCompanyQuarter ended 2026-03-31Quarter90,592 oz AuSource Derived
Quarter ended 2026-06-30 productionDuketonQuarter ended 2026-06-30Quarter62,454 oz AuReported
Quarter ended 2026-06-30 productionTropicanaQuarter ended 2026-06-30Quarter39,087 oz AuReported
Quarter ended 2026-06-30 productionCompanyQuarter ended 2026-06-30Quarter101,541 oz AuSource Derived
Quarter ended 2026-09-30 productionDuketonQuarter ended 2026-09-30Quarter56,100 oz AuReported
Quarter ended 2026-09-30 productionTropicanaQuarter ended 2026-09-30Quarter27,000 oz AuReported
Quarter ended 2026-09-30 productionCompanyQuarter ended 2026-09-30Quarter83,000 oz AuReported
Quarter ended 2025-09-30 aiscDuketonQuarter ended 2025-09-30Quarter2,832 AUD/oz AuReported
Quarter ended 2025-09-30 aiscTropicanaQuarter ended 2025-09-30Quarter2,821 AUD/oz AuReported
Quarter ended 2025-12-31 aiscDuketonQuarter ended 2025-12-31Quarter3,151 AUD/oz AuReported
Quarter ended 2025-12-31 aiscTropicanaQuarter ended 2025-12-31Quarter2,303 AUD/oz AuReported
Quarter ended 2026-03-31 aiscDuketonQuarter ended 2026-03-31Quarter3,139 AUD/oz AuReported
Quarter ended 2026-03-31 aiscTropicanaQuarter ended 2026-03-31Quarter2,140 AUD/oz AuReported
Quarter ended 2026-06-30 aiscDuketonQuarter ended 2026-06-30Quarter3,642 AUD/oz AuReported
Quarter ended 2026-06-30 aiscTropicanaQuarter ended 2026-06-30Quarter2,532 AUD/oz AuReported
FY 2026 productionDuketonFY2026Year235,954 oz AuReported
FY 2026 aiscDuketonFY2026Year3,199 AUD/oz AuReported
FY 2026 productionTropicanaFY2026Year143,095 oz AuReported
FY 2026 aiscTropicanaFY2026Year2,443 AUD/oz AuReported
Cash at 30 June 2026 cashCompanyCash at30June2026Point In Time1,139,119,000 AUDReported
Derivedcash excludingbullion at 30 September 2026 cashCompanyDerivedcash excludingbullion at30September2026Point In Time1,169,761,824 AUDSource Derived
Company guidance3
MetricProjectPeriodLowHighStatus
Attributable Gold ProductionduketonFY27240,000270,000 oz AuCurrent
Attributable Gold ProductiontropicanaFY27120,000130,000 oz AuCurrent
Attributable Gold ProductionCompanyFY27360,000400,000 oz AuCurrent

Capital history

Capital events

2 events · newest first
DateEventAmountSharesPriceStatusTerms
2026-10-07Ann. 2026-08-21DividendA$151.7M——Completed—
2025-02-04DebtA$300M——Ongoing—

Contracts and ownership

Material economic arrangements These are deals that can affect sales, costs, funding or ownership. An arrangement marked “Included in valuation” may already be built into a project estimate or the bridge to shareholder value. A separate amount is shown only when one can be estimated; do not add it again.

Partial · as of 2026-10-13

Annual report and revised PFS establish sales channels, JVs, statutory royalties and the disputed Tropicana royalty/indemnity. Issuer is unhedged and reports no FX hedges; refining and minority project terms remain incomplete.

UnincorporatedJV; Regisreceives 30% productionandbears 30% costsanddevelopmentcapital. Operatorcontrolsminesequencing.

Joint Venture · Active
Counterparties
AngloGold Ashanti Australia Limited
Applies to
Tropicana Gold Project · Gold
Economic direction
Mixed
Period
From 2021-05-31; no end date stated
Key terms
Regiseconomicinterest: 30 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Duketoncomplexis 100% controlledexcept King John 70% interest, alreadyincludedinissuerconsolidatedresources/reserves; nosourcedseparatecashflow.

Joint Venture · Active
Applies to
Duketon Gold Project · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
King Johninterest: 70 %
How it affects our valuation

No valuation treatment is available for this arrangement.

StatutoryroyaltiesandotherchargesareincludedinoperatingAISC. Allrates notseparatelyreconstructed; highergoldraisesroyaltycost.

Royalty · Active
Counterparties
Western Australian Government
Applies to
Duketon Gold Project · Tropicana Gold Project · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
Valuationtreatment: IncludedinissuerAISC
How it affects our valuation

No valuation treatment is available for this arrangement.

4% advaloremroyaltyincludedin Mc PhillamysPFSNPVandAISC; noadditionalbridgecharge.

Royalty · Active
Counterparties
New South Wales Government
Applies to
McPhillamys Gold Project · Gold
Economic direction
Burden
Period
Dates not stated
Key terms
State Royalty: 4 %
How it affects our valuation

No valuation treatment is available for this arrangement.

Goldsales/refiningchannels; nofixedhedgepricingorvolume commitmentinselectedsources. AssumeAUDbenchmarkrealisationwithoutadditionalpremium.

Offtake · Active
Counterparties
ABC Refinery · Perth Mint
Applies to
Duketon Gold Project · Tropicana Gold Project · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
FY 26 customerrevenues: ABCRefineryA$1,452.1m;PerthMintA$897.0m AUD
How it affects our valuation

No valuation treatment is available for this arrangement.

South 32/IGO royalty hearing December 2025 decision reserved. Regis joined July 2024 and may bear transferred royalty/indemnity after May 2021 acquisition. Regis states no amount due; no liability treated as established.

Royalty · Conditional
Counterparties
South32 Limited · IGO Limited
Applies to
Tropicana Gold Project · Gold
Economic direction
Burden
Period
From 2021-05-31; no end date stated
Key terms
Claimed royalty: 1.5 %
Regis transferred royalty indemnity: Liability to extent applicable after acquisition; precise allocation and retrospective scope unresolved
How it affects our valuation

No valuation treatment is available for this arrangement.

Water is supplied under a Water Offtake Deed; power infrastructure is proposed under build-own-operate-maintain arrangements. Modeled within PFS-calibrated operating cost, with no gross incremental contract double charge.

Other · Active
Applies to
McPhillamys Gold Project · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
McPhillamys Water Offtake Deed: Supply and service tariffs included in PFS operating cost; individual tariffs not disclosed
How it affects our valuation

No valuation treatment is available for this arrangement.

Water is supplied under a Water Offtake Deed; power infrastructure is proposed under build-own-operate-maintain arrangements. Modeled within PFS-calibrated operating cost, with no gross incremental contract double charge.

Other · Conditional
Applies to
McPhillamys Gold Project · Gold
Economic direction
Mixed
Period
Dates not stated
Key terms
McPhillamys proposed power BOOM arrangement: Supply and service tariffs included in PFS operating cost; individual tariffs not disclosed
How it affects our valuation

No valuation treatment is available for this arrangement.