Regis Resources has posted a 91% drop in full-year profit to $13.8 million after booking $60m in post tax non-cash adjustments relating to its stockpile inventory.
The well-flagged result came on the back of a 24% lift in revenue.
The miner said the financial performance was significantly impacted by a combination of the ongoing impacts of COVID and inflationary cost pressures.
?The considerable investments made in FY22 across both mining and processing, positions the company to further increase production and operating cash flow going forward?, said Managing Director Jim Beyer.
The Regis Resources Limited share price was up 4.1% in early trade.