Name of the Project
McPhillamys gold project.

Location
Kings Plains, about 8 km from Blayney, in New South Wales, Australia.

Project Owner/s
Regis Resources, through its subsidiary LFB Resources.

Project Description
The project aims to develop a seven-million-tonne-a-year operation.

The project includes three-stage crushing, including high-pressure grinding rolls; a 6.9 MW ball mill; whole ore of leach at 45 µm with two 3.4 MW vertical mills; conventional carbon-in-leach tanks and associated equipment; a tailings storage facility (Stage 1); a 90 km water supply pipeline and all associated infrastructure encompassing power, offices and workshops.

Potential Job Creation
The project will create about 480 jobs during the initial 12- to 18-month construction period for the mine site, and another 260 jobs once the mine is operating. Construction of the proposed water pipeline will provide another 120 jobs.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Regis reported in April 2024 that the previously indicated development costs will be higher than previously anticipated and communicated. Preproduction capital is now estimated at between $115-million and $155-million, with total construction costs estimated at between $845-million and $900-million.

Planned Start/End Date
Construction is expected to take two years to complete.

Latest Developments
Regis Resources has announced that its McPhillamys gold project is no longer considered viable, owing to a recent environmental protection declaration by Environment Minister Tanya Plibersek. This declaration, which affects a crucial part of the project site, has cast uncertainty over the project's future.

Despite Plibersek's assurance that the declaration would not outright prevent the mine's development, Regis argues that it severely impacts on a key area of the site essential for the project's success.

In light of the Section 10 declaration, Regis is reassessing the project’s A$190-million valuation and its ability to continue reporting the project's ore reserves.
The company is exploring all available legal options in response to the decision.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Regis Resources, tel +61 8 9442 2200 or email enquiries@regisresources.com.