Regis Resources Limited (ASX:RRL) is an emerging Australian gold production and exploration company.
Its management team has a successful track record of developing mid sized gold operations within Australia and Africa.
It has been one of the hot shares in the past year, having more than tripled in price since July 2010.
Today, RRL reported a maiden FY12 net profit of $36.3 million. The result compares to a net loss of $18.3 million in FY11.
The group posted gold sales of $107.9 million as it successfully transitioned from explorer to producer.
RRL said the development of the Garden Well Gold Project will take its output to around 350,000 ounces in FY12/13.
Therefore it will be one of the shares to watch.
Posted in ASX Top 500 All Ordinaries, Australia Shares, Financial News, Gold Stocks Australia, Market Sectors News, Materials Stocks, Mining Shares Australia, S&P ASX News, Watch Stocks