2304 GMT - Regis Resources is no longer considering a development of its A$1 billion McPhillamys gold project in the near term. So what will it do with its cash? Options include dividends, share buybacks, acquisitions, growing its existing operations, and debt repayments. "Its A$300 million debt facility has service costs of A$20 million per annum and together with organic growth, we believe is the most attractive use of funds," analyst David Coates says. M&A looks challenging, Bell Potter says, with gold prices closing Thursday at their second-highest level ever. "Dividends are possible, but in our view it would be prudent for Regis to take time to assess it position," Bell Potter says. It has a "buy" call on the stock. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
October 24, 2024 19:04 ET (23:04 GMT)
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