Regis Resources entered the September 2026 Denver Mining Forum with a clear growth narrative. Regis set out its operating plan with three parts. Keep and run existing assets.
Turn them into cash. Use that cash to fund what comes next. The business reports 8.3 Moz in Group Mineral Resources. It also reports 3.9 Moz in Group Reserves. The company’s sites include Duketon, Tropicana, and McPhillamys.
Duketon and Tropicana remain producing assets. McPhillamys represents the larger growth opportunity. The presentation also outlined FY27 production guidance of 360–400koz. Regis also highlighted established infrastructure supporting future organic growth.
Regis Resources presents its FY27 growth strategy at the September 2026 Denver Mining Forum. [Business News]
Regis Resources FY27 Outlook Centres On Production
The Regis Resources FY27 outlook combines production growth with targeted investment. Group guidance points to 360–400koz of gold production.
AISC guidance stands at $2,990–$3,390/oz. Growth capital is forecast at $250–270M. Exploration spending is expected at $80–90M. McPhillamys spending is guided at $30–35M.
The production profile remains weighted toward Duketon and Tropicana. Duketon is guided at 240–270koz. Tropicana is guided at 120–130koz. Regis also expects a catch-up tax payment of ~$230M in the December quarter.
Key FY27 guidance points include:
- Production: 360–400koz across the Group.
- Growth capital: $250–270M for business expansion.
- Exploration: $80–90M to support resource replacement.
- McPhillamys: $30–35M allocated during FY27.
Duketon Builds The Organic Growth Pipeline
Duketon remains central to the Gold expansion narrative Regis Resources presented in Denver. The operation has established, paid-for infrastructure.
Regis continues searching for additional ounces near existing processing capacity. Duketon combined mill throughput increased from 7.4Mt in FY25 to 8.1Mt in FY26.
That represented a 10% increase. BuckWell is another contributor to the growth strategy. The project is expected to deliver ~223koz over ~5.7 years. Regis reported a $268M pre-tax NPV and 127% IRR at A$5,387/oz.
The company highlighted several areas supporting Duketon’s growth pipeline:
- Garden Well: Mineralisation has been confirmed 500 m down-dip.
- Rosemont: Stage 3 drilling continues to test extensions.
- Beamish South: A 270koz Mineral Resource was declared.
- Exploration: New targets remain close to existing infrastructure.
Duketon exploration and underground development underpin Regis Resources’ organic growth strategy. [Regis Resources]
Tropicana Provides Additional Underground Potential
Tropicana provides another component of the Denver Forum gold mining update. Regis owns 30% of the operation. Its attributable Mineral Resources stand at 1.6Moz. Attributable Ore Reserves total 0.6Moz.
Underground exploration continues beyond current resource boundaries. Regis said drilling continues to demonstrate mineralisation outside existing resources. Havana underground remains on track for first production in H1 CY2028.
Surface infill drilling is also testing higher-grade mineralisation at Havana South. Boston Shaker 3 drilling began during the second half of FY26.
The Tropicana strategy includes several ongoing development priorities:
- Havana: Underground production remains targeted for H1 CY2028.
- Boston Shaker 3: Drilling is improving geological understanding.
- Underground growth: Mineralisation remains open beyond current resources.
- Reserve replacement: Exploration continues across the broader operation.
McPhillamys Adds A Major Growth Option
McPhillamys represents a significant future production opportunity for Regis. The project has 1.9Moz of Ore Reserves. Its PFS outlines an NPV5.5% of $1.1 billion and an IRR of 21.8%.
These figures use A$4000/oz and apply after tax. The study outlines ~10 years of production. Average annual production is estimated at 190koz. Peak production is expected at 239koz.
LOM AISC is A$1,718/oz. Regis is also assessing extension potential and district opportunities. Discovery Ridge contains 400koz of Mineral Resources.
Cash Flow Supports Future Gold Expansion
Regis entered FY27 following a strong FY26 financial performance. Statutory NPAT reached $715M. Record cash flow reached $667M during the year.
Cash and bullion reached $1.184B after tax and dividend payments exceeding $300M. EBITDA reached $1.345B, with a 57% margin. Gold production totalled 379,050 ounces at an AISC of $2,945/oz.
Gold sales revenue increased to $2.349B. Regis also declared fully franked dividends of 35cps for FY26. The company reported a 6.5% yield based on its stated calculation methodology.
The operating model remains focused on three connected priorities:
- Sustain: Maintain production from established operations.
- Harvest: Generate cash flow from existing infrastructure.
- Invest: Fund exploration, mine development and organic growth.
The strategy also emphasises low-cost resource replacement. Regis reported a Duketon replacement cost of ~A$76/oz. That figure covers FY23-26 exploration and resource definition costs.
The company continues targeting discoveries near established processing capacity. Its presentation states that discovery remains a capital-effective method for adding ounces. Regis also highlighted its dividend history.
Fully franked dividends declared since 2013 total approximately $850M. More than $300M was declared during the last 18 months.
What The Denver Update Means For Regis
The Denver presentation links current production with future expansion. Duketon provides the immediate operating foundation. Tropicana adds underground growth potential. McPhillamys offers a larger development pathway.
Regis is therefore pursuing multiple growth avenues simultaneously. The company expects FY27 production of 360–400koz. Capital spending will support operational extensions and exploration. The strategy also depends on successful exploration outcomes.
Project permitting remains important for McPhillamys. Regis states that actual results may differ from forward-looking expectations. Investors should therefore assess the assumptions and risks within the presentation.
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FAQs
Q1: What is Regis Resources’ FY27 production guidance?
A1: Regis Resources has guided for Group production of 360–400koz. Duketon is guided at 240–270koz, while Tropicana is guided at 120–130koz.
Q2: How much growth capital is planned for FY27?
A2: Regis Resources expects FY27 growth capital of $250–270M. The spending supports operational growth and future production capacity.
Q3: What is the status of McPhillamys?
A3: McPhillamys has 1.9Moz of Ore Reserves and a supporting PFS. Regis is targeting a final investment decision in H1 2028.
Q4: Why is exploration important to Regis Resources?
A4: Exploration supports resource replacement and future mine-life extensions. Regis continues targeting discoveries near existing processing infrastructure.
Disclaimer
This article is based on Regis Resources’ September 2026 Denver Mining Forum presentation and related company disclosures. Any statements about future plans come with risks and unknowns. Results may not match what the company expects. Output, costs, exploration work, and project results can change. Mineral Resources and Ore Reserves are reported under the JORC Code 2012. Investors should check the ASX releases first. They should also get their own financial advice before deciding.
Luke Carlino is a seasoned Copywriter, Content Strategist, and Social Media Manager specialising in Mining, Finance, and Business journalism. With more than a decade of industry experience, he brings rigorous editorial standards and commercial acuity to every project.
