The 100% Regis-owned McPhillamys Gold Project is one of Australia’s larger undeveloped open-pittable gold resources.
The Project is located approximately 250 kilometres west of Sydney in the Blayney-Kings Plains district, an established mining region of Central Western NSW. The investment required to construct and operate McPhillamys will provide a major economic boost and benefits to the local, NSW and Australian economies.
Since purchasing the McPhillamys Gold Project in 2012, Regis has invested over $300M in the exploration, scientific studies and design reviews that have informed the planning assessment process.
In March 2023 the project was approved by the NSW Independent Planning Commission and the Federal Government, subject to a range of consent conditions.
During FY24, Regis progressed the McPhillamys DFS and in April 2024 an update on key financial metrics was provided. After the end of FY24, the detailed results of the DFS were released outlining the potential for a robust, long-life open pit mine with solid financial metrics.
However, on 16 August 2024, the Federal Minster for the Environment and Water announced a Section 10 declaration over a part of McPhillamys, resulting in the loss of access to the planned tailings storage facility (TSF) area. This Section 10 declaration has rendered the Project, in its current form, unviable.
As a consequence of the Section 10 declaration, Regis has withdrawn the Project outcomes of the McPhillamys DFS. This includes taking a non0cash impairment of $192 million against a significant proportion of the carrying value of McPhillamys withdrawing the 1.89Moz of Ore Reserves previously declared with the Project.
Regis is assessing the Section 10 decision and is considering all legal options.
The McPhillamys Gold Project was assessed and approved by both NSW and Federal Governments.
NSW planning assessment documents are here.
Independent Planning Commission documents and Conditions of Consent are here.
EPBC Act documents and conditions of consent are here.
Community Consulative Committee
Supporting Blayney
Since 2013, Regis Resources has supported local charities, schools and training organisations, health, sporting and other local groups within the Blayney community.
Local Weather
The McPhillamys weather station provides real time and historic weather information. It includes local temperature, wind direction, rainfall and other data.
The station is located on the McPhillamys site at Kings Plains.