Regis Resources names former OceanaGold chief as COO
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The news: Gold miner Regis Resources has appointed mining engineer Michael Holmes as its new chief operating officer, replacing Stuart Gula. Holmes was a former COO and chief executive officer at ASX/TSX-listed OceanaGold Corporation. He will start the role on 1 November.
The numbers: Regis has a market cap of $1.21 billion but its share price has been volatile in 2023, falling from $2.08 to $1.57 since January after operational hiccups weakened production. In 2021 under Holmes' watch, OceanaGold had revenue of USD745 million ($1.16 billion) and EBITDA of USD330 million.
The context: Regis was among a host of gold miners recommended to buy by Macquarie in September, with the investment bank tipping an uptick in gold prices as inflation and interest rate risks drive interest in the safe-haven asset.
The source: ASX Announcement
