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Macquarie Downgrades Regis Resources to Neutral from Outperform; Price Target is AU$8
Regis Resources (ASX:RRL) has an average rating of hold and mean price target of AU$7.84, according to analysts polled by FactSet.
ASX:RRL
ASX:RRL
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Asia
Regis Resources Fiscal 2026 Earnings, Revenue Up
Regis Resources (ASX:RRL) logged AU$0.9392 in earnings per share for the fiscal 2026, compared with AU$0.3343 a year ago, a Friday filing showed.Analysts polled by FactSet expected earnings of AU$0.98.For the 12 months ended June 30, revenue was AU$2.35 billion versus AU$1.65 billion previously, the Australia-listed gold miner added. Analysts surveyed by FactSet expected AU$2.35 billion.The board declared a final dividend of AU$0.15 per share, up from AU$0.05 a year earlier, and a special dividend of AU$0.05 per share. Both dividends are payable on Oct. 7 to shareholders on record as of Sept. 11.The company expects fiscal 2027 gold production of 360,000 to 400,000 ounces, all-in sustaining costs of AU$2,990 to AU$3,390 per ounce, and growth capital expenditure of AU$250 million to AU$270 million.
ASX:RRL
Asia
ASX Biggest Gainers
Here are the ASX-listed companies with the biggest gains on Thursday.Brazilian Rare Earths (ASX:BRE): +7%, AU$4.26Ora Banda Mining (ASX:OBM): +7%, AU$1.34Mineral 260 (ASX:MI6): +6%, AU$0.70Vault Minerals (ASX:VAU): +6%, AU$5.64Genesis Minerals (ASX:GMD): +6%, AU$6.84Regis Resources (ASX:RRL): +6%, AU$7.11Evolution Mining (ASX:EVN): +6%, AU$13.27AMP (ASX:AMP): +6%, AU$2.31REA Group (ASX:REA): +6%, AU$176.02DPM Metals (ASX:DPM): +5%, AU$57.96
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Asia
Regis Resources Says BlackRock Increases Stake
Regis Resources (ASX:RRL) said BlackRock Group increased its stake in the company on July 31 to 7.17% or 54.3 million shares from 6.04% or 45.7 million shares, according to a Tuesday Australian bourse filing.
ASX:RRL
Asia
Zenith Shareholder Asks Takeovers Panel to Prevent Forrestania From Processing Further Acceptances Under Takeover Offer
Zenith Minerals (ASX:ZNC) said Australia's Takeovers Panel received an application from Harvest Lane Asset Management, a shareholder of Zenith, seeking interim orders to prevent Forrestania Resources (ASX:FRS) from processing further acceptances under its takeover offer for Zenth and declaring the offer unconditional while the application is pending, according to a Friday Australian bourse filing.Forrestania entered into a binding takeover implementation deed with Zenith in June. Between June 9 and June 29, Forrestania increased its stake in Zenith to 21.40% from 9.72%. On June 29, Forrestania announced the acquisition of the Edna May mine from Ramelius Resources (ASX:RRL) for AU$300 million.Concurrently, Forrestania announced an equity placement of AU$310 million via a two-tranche placement at an issue price of AU$0.40 per share, almost 30% lower than the referenced offer price in the target's and bidder's statements, per the application.Harvest Lane submitted that the "timing proximity" of the acquisition of the mine and the subsequent material dilution, to the release of both bidder's and target's statements, which did not specifically disclose or reference, constituted information that ought to have been known at the time the statements were issued.Failure to disclose such information constitutes "misleading and deceptive circumstances," according to Harvest Lane.Forrestania's shares fell nearly 8% in recent trading on Friday, while those of Zenith declined 9%. Regis Resources shed 4%.
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Asia
ASX Preview: Australian Shares to Fall After Oil Surge, Fresh Trump Tariffs; Newmont Posts Higher Q2 Adjusted Earnings, Revenue
Australian shares are poised to fall on Friday as a surge in oil prices above $100 a barrel stoked concerns over inflation and global economic growth after attacks on Saudi oil tankers in the Red Sea intensified supply disruption fears.Markets were also pressured by renewed trade tensions after the Trump administration announced new tariffs on 60 trading partners, including the European Union, as a temporary US tariff regime expired.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.2%, 2.2%, and 1%, respectively.In the macroeconomy, Australia's private sector expanded at its fastest pace of 2026 in July as new business returned to growth after four months, though business confidence remained subdued despite easing cost pressures, according to a survey by S&P Global released Friday.In corporate news, Newmont (ASX:NEM) reported Friday second quarter adjusted net income of $2.10 per share on revenue of $6.12 billion, compared with adjusted net income of $1.43 on revenue of $5.32 billion a year earlier.Regis Resources (ASX:RRL) said June quarter gold production was 101,500 ounces at an all-in sustaining cost of AU$3,244 per ounce, with gold sales of 102,400 ounces totaling AU$639 million at an average realized price of AU$6,241 per ounce.Australia's benchmark index rose 0.2% or 16 points to close at 8,839 on Thursday.
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Asia
Regis Resources Posts Higher June Quarter Gold Production, Sales
Regis Resources (ASX:RRL) said June quarter gold production was 101,500 ounces at an all-in sustaining cost (AISC) of AU$3,244 per ounce, with gold sales of 102,400 ounces totaling AU$639 million at an average realized price of AU$6,241 per ounce, according to a Friday Australian bourse filing.The company reported June quarter fiscal 2025 gold production of 87,400 ounces at an AISC of AU$2,812 per ounce, with gold sales of 96,800 ounces totaling AU$498 million at an average realized price of AU$5,148 per ounce, an earlier filing showed.The company said cash and bullion as of June 30 was a record AU$1.18 billion.
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Asia Markets
Australian Shares Fall; Coles Group Ends Talks With TPG Capital Over Potential Greencross Acquisition
Australian shares retreated on Friday after a sell-off on Wall Street over concerns of potential overcapacity in the artificial intelligence build-up.The S&P/ASX 200 Index fell by 44 points, or 0.5%, to close at 8,796.70.On Wall Street, the Nasdaq Composite index fell 1.5% overnight, while the S&P 500 and the Dow Jones declined 0.5% and 0.2%, respectively.Brent crude oil futures continued to rise to trade around $85 per barrel as the US and Iran continued to trade strikes. Meanwhile, spot gold fell below the $4,000 mark to around $3,981 per ounce.On the domestic front, the impact of artificial intelligence (AI) on the Australian labor market has been small so far, but the landscape is quickly rapidly, with the data pointing to the labor market changing in shape more than size, Jarden said.In company news, Coles Group (ASX:COL) said it has ceased discussions with private equity firm TPG Capital regarding the potential acquisition of Greencross Pet Wellness.Regis Resources (ASX:RRL) identified that 4,391 ounces of gold were incorrectly reported as poured bullion on hand after final reconciliation on June 30. As a result of this error, the end-of-month cash and bullion on hand was adjusted to AU$1.18 billion from AU$1.21 billion. Gold production at the Duketon gold project in Western Australia for the fiscal year 2027 is expected to be higher than in the fiscal year 2026.Lastly, Zip (ASX:ZIP) said it will undertake an orderly wind-down of its New Zealand operations following a strategic review, as the company sharpens its focus on its Australian and US businesses, which continue to deliver strong growth and profitability.
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Asia
ASX Biggest Losers
Here are the ASX-listed companies with the biggest losses on Friday.EQ Resources (ASX:EQR): -10%, AU$0.22Mesoblast (ASX:MSB): -10%, AU$2.50Orezone Gold (ASX:ORE): -8%, AU$2.07Ora Banda Mining (ASX:OBM): -8%, AU$0.99Regis Resources (ASX:RRL): -8%, AU$5.69Sunrise Energy Metals (ASX:SRL): -7%, AU$15.744DMedical (ASX:4DX): -7%, AU$3.49Weebit Nano (ASX:WBT): -7%, AU$6.04Elsight (ASX:ELS): -7%, AU$6.74Metals X (ASX:MLX): -7%, AU$1.35
ASX 200ASX:4DXASX:ELSASX:EQRASX:MLXASX:MSBASX:OBMASX:OREASX:RRLASX:SRLASX:WBT
Asia
Regis Resources Finds Reconciliation Error in Reported Bullion on Hand; Shares Fall 9%
Regis Resources (ASX:RRL) identified that 4,391 ounces of gold were incorrectly reported as poured bullion on hand after final reconciliation at June 30, according to a Friday Australian bourse filing.As a result of this error, the end-of-month cash and bullion on hand was adjusted to AU$1.18 billion from AU$1.21 billion, the company said.In the same filing, the company said gold production at the Duketon gold project in Western Australia for fiscal 2027 is expected to be higher than fiscal 2026 and slightly skewed towards the second half of the year.It now expects group production of 360,000 tonnes to 400,000 tonnes during fiscal 2027, with all-in sustaining costs of between AU$2,990 per share and AU$3,390 per share.It expects to produce 240,000 to 270,000 tonnes at Duketon during the fiscal year, and 120,000 tonnes to 130,000 tonnes at the Tropicana project in Western Australia, in which it owns a 30% stake. At Tropicana, production guidance is down slightly year over year.The company's shares fell nearly 9% in recent trading on Friday.
ASX:RRL
Asia
Vault Minerals' Proposed Merger With Genesis Minerals Positive Outcome for Shareholders, Jarden Says
Vault Minerals' (ASX:VAU) proposed merger with Genesis Minerals (ASX:GMD) is a positive outcome for Vault shareholders, superior to the previously proposed merger with Regis Resources (ASX:RRL), Jarden said in a Tuesday note.Genesis Minerals agreed to acquire Vault Minerals for AU$5.274 per share. Vault shareholders will receive 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for each Vault share they hold.Vault shareholders who remain Genesis shareholders are likely to benefit from the around estimated AU$2 billion undiscounted synergies, along with other likely unquantified synergies, Jarden said.The combined entity is expected to be unhedged, providing substantial operating leverage to spot gold, the investment firm added. The combined ore reserve of around 9.4 million ounces and mineral resource of around 33.6 million ounces supports a long-life production profile.Jarden retained its neutral rating on Vault Minerals and raised the price target to AU$5.20 from AU$4.30.Vault Minerals' shares shed 1% in recent Wednesday trade, while Genesis Minerals' shares lost about 2%. Regis Resources' shares tumbled 5%.
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Asia
Genesis Minerals to Acquire Vault Minerals for AU$5.274 per Share
Genesis Minerals (ASX:GMD) agreed to acquire Vault Minerals (ASX:VAU) for AU$5.274 per share in a deal that values Vault at roughly AU$5.6 billion, according to a Tuesday filing with the Australian bourse.Vault shareholders will receive 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for each Vault share they hold, per the filing. At closing, Genesis shareholders will own around 59.8% of the merged company on a fully diluted basis, while Vault shareholders will own the remaining 40.2%.The merger will create a top-three Australian gold producer with a roughly AU$12.6 billion pro-forma market capitalization, around 600,000 to 700,000 ounces of pro-forma annual production, 33.6 million ounces in pro-forma mineral resources, and 9.4 million ounces in pro-forma ore reserves, per the filing.The companies estimate potential synergies of about AU$2 billion post-tax, including around AU$1.5 billion over 10 years that are "unique to a combination of Genesis and Vault."Vault Minerals Chair Russell Clark will be appointed as non-executive chairman of the merged company, with Matt Nixon and Morgan Ball to remain as CEO and CFO, respectively.Vault has terminated a previous acquisition agreement with Regis Resources (ASX:RRL), triggering a break-up fee payment of about AU$50.7 million to Regis.
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US Markets
Regis Walks Away From Vault Bid, Clearing Path for AU$5.6 Billion Genesis Deal
Regis Resources (ASX:RRL) will not submit a counterproposal for Vault Minerals (ASX:VAU), paving the way for Genesis Minerals (ASX:GMD) to move ahead with its takeover offer for the gold producer.Genesis' binding proposal values Vault at about AU$5.6 billion, offering 0.7629 Genesis shares and AU$0.475 in cash for each Vault share.The offer was determined by Vault's board to be superior to Regis' earlier merger proposal, under which Vault shareholders would have received 0.6947 Regis shares for each Vault share.Genesis said the combination would create an Australian gold producer with a pro forma market capitalization of AU$12.6 billion, annual production of 600,000 to 700,000 ounces, and about AU$2 billion in estimated post-tax synergies.Regis said its board decided not to match Genesis' proposal because it did not meet the company's return and value requirements for acquisitions."The terms that would be required to match the Genesis Proposal do not meet the value and return thresholds that Regis applies to all growth opportunities," the company said."Maintaining this discipline is fundamental to how Regis creates long-term value for shareholders," it added.Following Regis' decision, Vault announced plans to terminate its scheme implementation deed with Regis and sign a definitive agreement with Genesis, following the expiration of Regis' matching rights period on Friday, July 10.Genesis said the terms of its proposal remain unchanged and will stay open until the deadline. If Vault accepts the offer, Genesis said it will release a further announcement.Regis said it expects to receive a break fee of about AU$50.7 million upon Vault's termination of the agreement.The company added that it remains in a strong financial position, supported by a debt-free balance sheet with AU$1.2 billion in cash and bullion, strong free cash flow generation, and a pipeline of organic growth opportunities, including the McPhillamys gold project.
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Asia
ASX Preview: Australian Shares to Rise as Iran Tensions Escalate; oOh!media Says Prospective Buyers Reconfirmed Non-Binding Offers
Australian shares are poised to rise on Monday as gains in oil prices lift energy stocks, with markets tracking heightened geopolitical tensions after Iran expanded strikes on Gulf states and raised concerns over crude shipments through the Strait of Hormuz.In the macroeconomy, Australians are turning FIFA World Cup fever into a local spending surge, with new data revealing billions of dollars flowing into pubs, cafes, restaurants, and sporting retailers as fans gather to watch the global tournament, ANZ Research said in a report on Monday.In corporate news, oOh!media (ASX:OML) said Pacific Equity Partners, I Squared Capital, and Oaktree Capital Management reconfirmed their non-binding indicative offers to acquire the company at a price range of AU$1.60 to AU$1.65 per share.Regis Resources (ASX:RRL) will not make a new offer to acquire Vault Minerals (ASX:VAU) following a competing proposal by Genesis Minerals (ASX:GMD).Australia's benchmark index rose 0.5% or 43.5 points to close at 8,806 on July 10.
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Asia
Regis Resources Loses Appetite for Vault Minerals Following Competing Proposal From Genesis Minerals
Regis Resources (ASX:RRL) will not make a new offer to acquire Vault Minerals (ASX:VAU) following a competing proposal by Genesis Minerals (ASX:GMD), according to a Monday filing with the Australian bourse.Regis said it will not submit a counter proposal after Vault determined that the Genesis offer is superior to the agreement struck with Regis in early May."The Regis board has concluded that the terms that would be required to match the Genesis proposal to not meet the value and return thresholds that Regis applies to all growth opportunities," the company said.It added that Vault is expected to terminate the Regis agreement, which will trigger a break-up fee of about AU$50.7 million in favor of Regis.
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Asia
Pantoro Could Become Takeover Target as it Works to Regain Market Trust, Euroz Hartleys Says; Shares Gain 6%
Pantoro (ASX:PNR) is expected to be susceptible to a potential takeover as the company attempts to regain market trust over the next six to 12 months after its June quarter production missed expectations, Euroz Hartleys said in a Friday note.The quarterly gold production of 18,028 ounces trailed the investment firm's estimate of 24,000 ounces and brought fiscal year 2026 production to 77,408 ounces. The full-year result missed the company's downgraded guidance of 86,000 to 96,000 ounces."We doubt the market will believe that this is the final reset for [Pantoro] until numerous quarters of guidance is achieved," the equity research firm said.It flagged Ora Banda Mining (ASX:OBM), Bellevue Gold (ASX:BGL), Catalyst Metals (ASX:CYL), Gold Fields, Regis Resources (ASX:RRL), and Capricorn Metals (ASX:CMM) as parties that could be interested in Pantoro, noting that some of those potential bidders are trading at large premiums to Pantoro's roughly AU$800 million market cap.Euroz Hartleys lowered its fiscal year 2027 production forecast for Pantoro to 93,000 ounces at an all-in sustaining cost of AU$3,102 per ounce from a previous estimate of 103,000 ounces at AU$2,850 per ounce.It maintained a speculative buy recommendation on Pantoro while reducing the target price to AU$3.53 per share from AU$6.52.The company's shares advanced 6% in recent Friday trade as the broader materials sector also gained.
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Asia
Update: Vault Minerals Receives Nearly AU$6 Billion Merger Proposal From Genesis Minerals; Shares Up 11%
(Updates to add share movement in the headline and the last paragraph and Regis Resources' comment in the fifth paragraph)Vault Minerals (ASX:VAU) received an unsolicited binding proposal from Genesis Minerals (ASX:GMD) to merge via acquisition by Genesis of all ordinary shares in Vault through a scheme of arrangement, valuing Vault at AU$5.6 billion or AU$5.27 per share, according to a Monday Australian bourse filing.The company said the implied offer price represents a nearly 15% premium to the AU$4.614 implied offer price under its existing scheme with Regis Resources (ASX:RRL), based on the last closing price of Regis shares of AU$6.63 on July 3, and an almost 16% premium to the closing price of Vault shares on the same date.The consideration under the Genesis proposal comprises 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for every Vault share held, with Genesis to provide a mix and match facility enabling Vault shareholders to elect to receive more or less cash or scrip, subject to maximum aggregate cash and scrip consideration of about AU$500 million and about 803.4 million Genesis ordinary shares respectively, the filing added.Vault has notified Regis that it considers the Genesis proposal to be a "superior" proposal under the Regis scheme implementation deed(SID), with a five business day matching right period having commenced and set to expire on Friday, it added.Regis said that it is considering its position under the SID, according to the company's Monday Australian bourse filing.Vault Minerals shares rose almost 11% in recent Monday trade, while Genesis Minerals shares fell almost 7%. Regis Resources' shares added over 1%.
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Asia
Vault Minerals Receives Nearly AU$6 Billion Merger Proposal From Genesis Minerals
Vault Minerals (ASX:VAU) received an unsolicited binding proposal from Genesis Minerals (ASX:GMD) to merge via acquisition by Genesis of all ordinary shares in Vault through a scheme of arrangement, valuing Vault at AU$5.6 billion or AU$5.27 per share, according to a Monday Australian bourse filing.The company said the implied offer price represents a nearly 15% premium to the AU$4.614 implied offer price under its existing scheme with Regis Resources (ASX:RRL), based on the last closing price of Regis shares of AU$6.63 on July 3, and an almost 16% premium to the closing price of Vault shares on the same date.The consideration under the Genesis proposal comprises 0.7629 new Genesis ordinary shares plus AU$0.475 in cash for every Vault share held, with Genesis to provide a mix and match facility enabling Vault shareholders to elect to receive more or less cash or scrip, subject to maximum aggregate cash and scrip consideration of about AU$500 million and about 803.4 million Genesis ordinary shares respectively, the filing added.Vault has notified Regis that it considers the Genesis proposal to be a "superior" proposal under the Regis scheme implementation deed, with a five business day matching right period having commenced and set to expire on Friday, it added.
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Asia
Regis Resources Meets Top End of Fiscal 2026 Gold Production Guidance
Regis Resources (ASX:RRL) reported June quarter gold production of 101,500 ounces, bringing total production for fiscal 2026 to the top end of guidance at 379,000 ounces, according to a Monday filing with the Australian bourse.The company was targeting fiscal 2026 production within a guidance range of 350,000 to 380,000 ounces.In the same period a year ago, gold production was 87,400 ounces, an earlier filing showed.Regis Resources had AU$1.21 billion of cash and bullion on hand at the end of June, an increase of AU$692 million over the fiscal year after dividend payments of AU$151 million and tax of AU$156 million, per the Monday filing.
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Asia
Vault Minerals Delivers June Quarter Production In Line With Expectations, Euroz Hartleys Says; Shares Up 9%
Vault Minerals (ASX:VAU) delivered a solid June quarter result with production in line with expectations and stronger-than-expected free cash flow, Euroz Hartleys said in a Friday note.Euroz Hartleys said June-quarter gold production of 89,300 ounces was broadly in line with its forecast of 89,000 ounces, bringing fiscal year 2026 production to 336,500 ounces, in line with the company's full-year guidance.The research firm said the full June quarter report, due later this month, should provide greater clarity on all-in sustaining costs (AISC) following completion of the King of the Hills processing expansion and closure of the company's hedge book, with June quarter AISC forecast at AU$2,937 per ounce.It highlighted the start of Sugar Zone underground development as another step toward the planned first-quarter fiscal year 2028 restart, initially involving the production of waste rock for the southern tailings facility and the building of ore stockpiles ahead of plant recommissioning.The firm noted the company's hedge exit leaves it fully exposed to spot gold despite a debt-free balance sheet, with the Regis Resources (ASX:RRL) merger on track for shareholder approval in August or September.It added that the merger will create a mid-tier gold producer exceeding 700,000 ounces a year, with an AU$8.9 billion group set to benefit from stronger liquidity, lower capital costs, and over AU$500 million in tax and operational synergies.Euroz Hartleys retained its buy rating and price target of AU$6.80 on Vault Minerals.Vault Minerals' shares rose 9% in recent Friday trade.
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