Regis Resources chief executive Jim Beyer has revealed the company is open to a JV partner at its McPhillamys gold project in New South Wales, while lauding the project’s approvals status.
Regis Resources chief executive Jim Beyer has revealed the company is open to a JV partner at its McPhillamys gold project in New South Wales, while lauding the project’s approvals status.
Mr Beyer told media on the sidelines of the Diggers & Dealers Mining Forum in Kalgoorlie this afternoon that his company would be open to partnership at McPhillamys – where it released a positive definitive feasibility study in July.
That study outlined a pre-production capital cost for the project just shy of $1 billion, with a 6.1-year payback at an assumed gold price of $3,000 per ounce.
“We’re interested in derisking the project,” Mr Beyer said.
“Part of that could be, for the right value, bringing in a joint venture partner to help derisk it from a financial point of view.
“The short answer is yes.
“The long answer is, as long as its got reasonable value for our shareholders and it helps derisk it, and it makes sense.
“We think it’s a great project, but it’s something that from a financial commercial risk management point of view, could benefit from having a joint venture partner with us.”
Regis is yet to commit to building the project into a mine, having acquired it 12 years ago.
Mr Beyer said a decision on the project – which would be Regis’ first development venture outside of Western Australia – was likely to be made in early 2026.
In an increasingly complex regulatory environment, he pointed to McPhillamys’ receipt of all required major approvals as a significant plus for the asset.
“That is actually very significant in this day and age,” he said.
“Anybody that’s got a project that they’re trying to push through [will know], there is nothing that is happening to make life easier and faster.
“So if you’re sitting on an approved, permitted project; I think it’s not going to happen overnight, but I think the market is going to slowly start to see that.
“They understand the financial metrics, they understand the physical metrics, what they’re still not, I don’t think, fully appreciating is the permitting value of having something that you can go and do.”
Closer to home, Regis has been the subject of rumours about a move for Gold Road Resources.
Mr Beyer did not rule out mergers and acquisitions in an industry where “everybody’s probably chatted to everybody” but said any move by the company would need to create value for its shareholders.
“We can’t rule out anything,” he said when asked if he would rule out a Gold Road move.
“Everybody’s always looking, it’s our job to look for that.
“We’ve got a great project for capital allocation at McPhillamys, but my job is to look for alternatives to, I guess, put against it so the board knows that’s the best application of our capital.
“As part of that, I have to be looking for other things.”
Regis mines gold at the Duketon project and holds a 30 per cent stake in the producing Tropicana asset alongside AngloGold Ashanti.
Its shares were 4.2 per cent lower at market close today, trading at $1.60 each.
