Regis Steps Aside from Vault Merger Contest

13 July 2026 | Western Australia - Regis Resources has confirmed it will not submit a counterproposal to match the competing Genesis Minerals proposal for Vault Minerals.

Regis had previously entered into a Scheme Implementation Deed with Vault Minerals. However, Vault has determined that the Genesis proposal constitutes a “Vault Superior Proposal” under the terms of that agreement.

After reviewing the Genesis proposal, the Regis Board determined that the terms required to match it would not meet the value and return thresholds Regis applies to growth opportunities.

Regis said maintaining this discipline is fundamental to how the company creates long-term value for shareholders.

Why it matters: The decision clears the way for Vault to terminate its agreement with Regis, subject to the terms of the Scheme Implementation Deed, and potentially progress the competing Genesis proposal.

Regis said it expects Vault to terminate the agreement, which would result in a break fee of approximately A$50.7 million becoming payable to Regis.

The company said it remains in a strong position, supported by a debt-free balance sheet with $1.2 billion in cash and bullion, strong free cash flow generation across its operating portfolio, and organic growth opportunities.

Regis also highlighted the McPhillamys gold project, where Ore Reserves were recently reinstated following completion of a Pre-Feasibility Study.

For Australia’s gold sector, the update is another sign of the major consolidation taking place among established gold producers, particularly as companies compete for scale, operating synergies and long-life production portfolios.

Source: Regis Resources ASX announcement, “Vault Minerals Merger Update”, 13 July 2026.