Regis projects impacted by rain

Gold exploration company Regis Resources has announced its overall March quarterly production has been impacted by heavy rain.

Approximately 330mm of rain fell over a three-day period at the company's Tropicana gold project, located 330km from Kalgoorlie, earlier this month - while 110mm of rain impacted land access to Regis' Duketon operation, situated 130km north of Laverton.

Regis told the market it predicted its March quarterly gold production would reach approximately 90,000-95,000 ounces of gold, down from 109,200oz during the December quarter.

This is nothing new, with wet weather in March also impacting the gold miner last year. 

Despite this, the Subiaco-based company said its production guidance for the 2024 financial year, 415,000-455,000oz, would remain unchanged, after producing 458,000oz during the 2023 financial year. 

Regis produced 220,632oz up until December 31 2023, along with posting a statutory net loss after tax of $92 million, up from a $30 million loss during the prior corresponding period. 

As of 9.38am AWST, Regis was trading at $3.92 per share.