Regis Resources settles $300 million loan facility early
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The news: Gold producer Regis Resources has settled a $300 million loan facility early, and said it is in talks to set up another revolving credit facility.
The numbers: It said the $300 million loan facility was due to mature on 30 June 2025, but was repaid early considering the company’s strong cash position and the potential interest cost until maturity. Regis held a cash and bullion balance of $529 million at December-end.
The context: The early repayment has been enabled by “the consistent delivery of our plan over an extended period, resulting in a very strong cash and bullion position,” Regis CFO Anthony Rechichi said.
Meanwhile, the company is well advanced in negotiations for a new revolving credit facility to provide ongoing flexibility and additional liquidity, with the deal expected to be finalised in the coming weeks, he added.
Regis operates the Duketon and Tropicana gold mines in Western Australia. It wrote down the carrying value of its under development McPhillamys mine in NSW after an environmental protection declaration by the federal government last year, and has challenged the decision in the Federal Court.
The source: ASX announcement
