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Regis Resources Ltd Rallies 4% On The Back Of 2020 Half Year Financial Results

Tim Montague-Jones

Tim Montague-Jones has over 20 year investment management experience working in the financial markets. Previous experience includes a ten year stint at Morningstar as a Senior Equity Analyst/Portfolio Manager, founding the Morningstar Growth Portfolio and a founding member of their Investment Committee. Tim was also a Senior Equity Analyst for Macquarie Group and a member of the winning team to obtain the 2016 LONSEC Fund Manager of the Year award.

Regis Resources Ltd (ASX: RRL) released their 2020 Half Year Financial Results for the half year ended December 31, 2019. Regis Resources is an Australian pure play gold production and exploration company with operations in Western Australia and New South Wales.



Australian pure play gold miner Regis Resources has rallied 4% on the back of its 2020 half year financial results. The company reported 27% EBITDA growth and 17% earnings growth. (Credit: AustralianMiningReview.com.au).


RRL reported sales revenue of $371.4m, a 17% increase from 1H19 and a 5% beat on consensus expectations. This came as production actually fell 1.6% from 1H19 to 1H20. The company’s all-in sustaining-cost per ounce rose 28.5% from 1H19 to 1H20. This translated to an EBITDA of $186 million (broadly in line with consensus expectations), representing 27% growth and providing an EBITDA margin of 50%. Meanwhile, net profit after tax was reported at $93.4m, representing 17% growth and increasing the net profit margin by 25%. However, assuming the current earnings run rate, the gold price would need to rally significantly for RRL to meet their full year guidance. Furthermore, Regis paid a dividend of 8 cents per share, in line with consensus expectations.

The reason the EBITDA number was broadly in line with expectations (despite a 28.5% increase in the all-in sustaining-cost) was primarily due to the recent run in gold price (which has rallied 14.5% in FY20 so far).

Traders appear pleased with the reported numbers, as the company’s share price is up 4 per cent at market open.



This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)

(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).

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