Regis Recourses Ltd [ASX:RRL] have been seeing a positive increase since 2015, their shares were once valued by $1.08 and are now trading for $4.63 a share at the time of writing.
Regis Resources was founded in 1988 and specialise in the basic material sector. Their market cap is worth $2.335 billion and enterprise value currently stands at $2.08 billion.
One of their main projects is the Rosemont project, which is a fully operational gold mine which commenced back in March 2013.
The mine is expected to continue to at least 2024.
State of Rosemont Maiden Underground Resource mine
The maiden has been estimated for two initial and discrete zones that will extend to a depth of 150 metres below the base of its current gold reserve pit.
Drilling will only commence in zones that are open for excavation, as they are the most ideal positions for mining.
Drill site locations were picked by site basted surveyors with an authority-based platform.
Assumptions based on conceptual underground mining studies resulted in estimates that the Rosemont main and South could be mined via medium and small scale via mechanised underground mining methods.
Technical assessment in regard to a full mining study will be conducted and supported by a board development decision, which will occur by the end of June 2018.
Drilling that commenced during the end of 2017 helped the overall quarters further define high grade gold mineralisation in two zones beneath the gold mine.
Junior mining network reported that, Regis Executive Chairman Mark Clark stated:
‘The maiden underground resource at Rosemont is a significant milestone for Regis. We are working to prove the underground mining proposition at Rosemont in these two initial, discrete areas. Mining studies are underway and we hope to make a development decision on underground mining by the end of June and then grow the scale of the underground mining inventory and operations from that platform…’
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