Gold miner Regis Resources is standing firm in its commitment to bring the McPhillamys gold project in New South Wales to life, with MD and CEO Jim Beyer saying the company is exploring all available pathways — including a judicial review — to advance the project.

“Do I think it’s worth pushing on and trying to figure out how we can get this thing done? Absolutely. Who wouldn’t?” Beyer said during his presentation at the Diggers and Dealers conference in Kalgoorlie on Tuesday.

McPhillamys, previously declared a 1.7-million- to 1.8-million-ounce reserve, was stalled following a 2023 decision by then federal Environment Minister Tanya Plibersek to impose a heritage protection order over part of the project area.

Beyer noted that a judicial review of that decision is scheduled for December.

“We will work our way through this . . . This could take five-years plus,” he said, describing McPhillamys as a medium-term development option with compelling economic upside.

At current gold prices of around A$5 200/oz, Beyer estimates the project could generate pre-tax cash flows of between A$1-million and A$1.5-million a day once operational.

“If this thing was running today... that’s what it would be producing. There are plenty of companies that would bend over backwards to have this asset on their portfolio,” he told the audience.

While Regis works toward a resolution at McPhillamys, the company continues to deliver strong performance from its producing assets, including Duketon, in Western Australia, and a 30% stake in Tropicana.

In the 2025 financial year, Regis reported A$570-million in net cash and bullion, removed its long-standing hedge book, and fully repaid its debt. The company is targeting production of 200 000 oz/y to 250 000 oz/y at Duketon, supported by a growing portfolio of underground mines. There are currently three underground operations either in production or development at Duketoen, and active drilling under way to identify a fourth.

Tropicana is expected to contribute 125 000 oz/y to 145 000 oz/y over the next several years.

Beyer said the company was also capitalising on high gold prices by processing opportunistic tonnes through spare mill capacity – an approach that adds profitable ounces without compromising long-term plans.

“We are not mining now for ounces we want in two years’ time. These are opportunistic tonnes we can turn over in a matter of months,” he explained.