Regis Resources establishes $300m revolving credit facility

The news: Regis Resources has established a $300 million revolving credit facility for additional flexibility and liquidity.

The context: The move follows the early repayment of the gold miner’s $300 million syndicated loan facility last month. It was repaid earlier than its due date of 30 June as Regis had a strong cash position and wanted to avoid the potential interest cost until maturity, the company said.

Regis continues to operate gold mines in Western Australia but wrote down the varying value of its under development McPhillamys mine in NSW after an environmental protection declaration by the federal government last year. It has challenged the decision in the Federal Court.

What they said: Regis chief financial officer Anthony Rechichi said: “We now have an expanded banking syndicate, consisting of numerous very highly regarded banks with significant experience within the natural resources sector”.