Regis Resources (ASX:RRL) has agreed to acquire the Southern Star gold prospect from Great Southern Mining for up to $9 million. The deal involves an initial $4 million cash payment, with up to $5 million in further payments contingent on gold prices and resource milestones. Southern Star is strategically located just 3.5 kilometres south of Regis’ existing Ben Hur mine, offering a straightforward route to near-term production. Regis Resources is a gold producer focused on developing its portfolio of assets in key regions of Western Australia. The company is dedicated to responsible mining practices and creating value for its shareholders.
The acquisition further consolidates Regis’ dominant position within the Duketon Greenstone Belt, where it already manages several assets and processing plants. In conjunction with the acquisition, Regis Resources and Great Southern Mining have established a strategic data-sharing alliance intended to accelerate the discovery of new gold resources in the region.
In other news, Regis Resources announced its FY25 gold production reached 373,000 ounces, placing it near the upper end of its projected guidance. The company’s all-in sustaining cost was $2531 per ounce, which falls within the lower half of the expected cost range.
Regis Resources concluded the financial year with a cash and bullion balance of $517 million. This reflects an increase of $222 million compared to the previous year, even after the company repaid $300 million in debt.
