Sydney, June 20, 2026, 05:04 (AEST)
- Regis finished Friday’s session down 1.98% at A$6.94, but that’s still 18.6% higher than its close the previous Friday.
- Regis Resources put out a new study for McPhillamys, restoring a 1.89-million-ounce gold reserve. The update set the post-tax value at A$1.13 billion, just above the A$1.08 billion pre-production bill.
- The ASX is shut for the weekend, but its 2026 calendar doesn’t show a market holiday on Monday.
Regis Resources dropped 2.0% on Friday after telling the market it has rebuilt reserves at its stalled McPhillamys project in New South Wales. Shares ended at A$6.94, down from A$7.08 on Thursday.
The drop hardly slowed this week’s rally. Regis jumped 18.6% since last Friday, outpacing the S&P/ASX 200, which added about 0.3% for the week. Gold miners started strong but faded later.
Regis released a pre-feasibility study Friday, putting probable ore reserves at 56 million tonnes with a grade of 1.1 grams gold per tonne for a total of 1.89 million ounces. With gold at A$4,000 per ounce in the model, Regis sees average yearly production of 190,000 ounces. The company estimated gross revenue at A$7.1 billion and pegged all-in sustaining costs at A$1,718 an ounce. AISC tracks costs from mining, processing, and maintaining output.
Regis Resources will drop the old tailings dam plans. The company now wants to use filtered waste, which gets mechanically dewatered and then mixed into a waste landform on land it owns. Managing Director and CEO Jim Beyer said the move offers “a technically sound and practical pathway forward.” Australian Mining
Regis is chasing permits for its new waste facility, plus power infrastructure and a water pipeline, while its original tailings site is tied up in a federal heritage protection order called a Section 10 declaration. The company is also asking the Federal Court to review the 2024 decision.
Regis shares dropped 2.0% on Friday, but losses hit other gold names, too. Vault Minerals, which is lined up to merge with Regis, slipped 5.1%. Evolution Mining finished the day down around 5%. Spot gold shed about 1.7%, trading at US$4,137 an ounce. The ASX 200 gave up 0.9%.
McPhillamys is still expensive and a long way off. The A$1.08 billion cost to build is almost the same as the study’s A$1.13 billion post-tax NPV—the projected present value of what the mine could produce—and that number banks on gold at A$4,000. If gold drops, or if permits or costs slip, the gap may close fast. A final investment decision isn’t due until the first half of 2028.
Regis is pushing ahead with its all-share merger with Vault. The deal would form Australia’s third-biggest listed gold producer. Vault holders are set to get 0.6947 Regis shares for every Vault share, with current Regis investors ending up with around 51% of the combined company. Back in May, Beyer called the merger “a stronger company with greater scale, improved diversification and a stronger balance sheet.” Reuters
Regis will likely move with bullion and gold shares when trade starts again Monday, while updates from McPhillamys court or on permits could shake things up. According to the merger schedule, the scheme booklet is due out in July or August, with shareholder and court approvals expected in August or September. Regis plans to release its next quarterly numbers on July 20.
