Regis Resources Limited

FY 2026 statutory NPAT was AUD 715 million, up 180% year on year from AUD 254 million in FY 2025. FY 2026 gold production was 379,050 oz at AISC of AUD 2,945/oz, while gold sales were 374,000 oz. Statutory operating cash inflows were AUD 1.25 billion versus AUD 821 million last year, and cash and bullion finished at AUD 1.185 billion after a AUD 667 million increase over the year. The company declared FY 2026 fully franked dividends of AUD 0.35/share in total, or AUD 265 million, and said FY 2027 production guidance is 360,000-400,000 oz with AISC of AUD 2,990-AUD 3,390/oz.

Jim Beyer framed FY 2026 as evidence that Regis can convert a strong gold price environment into shareholder returns through consistent production and disciplined capital allocation. He emphasized that the company has now met production guidance for four straight years, is unhedged and debt-free, and has enough balance-sheet strength to fund growth options while still paying dividends. His tone was upbeat and confident, but he repeatedly stressed discipline rather than reckless use of cash.

Anthony Rechichi highlighted the step-up in financial performance, including AUD 1.25 billion of statutory operating cash inflows, AUD 715 million of NPAT, and a cash-and-bullion build of AUD 667 million over 12 months. He explained that cash generation was supported by higher gold sales, while costs rose 5% due to more operations in commercial production, higher royalties, inflation, and higher diesel prices in Q4. He also flagged tax becoming a meaningful cash use again: AUD 156 million paid in FY 2026, expected ongoing installments of about AUD 15 million-AUD 20 million per month in 1H FY 2027, and a catch-up payment of about AUD 220 million-AUD 240 million due in December 2026.

Analysts focused on FY 2027 dividend capacity, given the tax catch-up and front-end-loaded capex, and management said dividends will still be guided by cash generation, tax timing, and short-term fluctuations in balance-sheet position. On capital allocation, Beyer said the company is weighing organic growth at Duketon, McPhillamys, and future opportunities, while keeping discipline on M&A and noting the company walked away from the Vault process. On McPhillamys, he said there is no visibility on timing for the Section 10 judicial review, but an alternative pathway via the integrated waste landfill is progressing and the reserves have been restored.