Plibersek downplays implications of Regis gold mine rejection and hints at 'fast-track' if company reapplies

Tanya Plibersek has asked Regis Resources to change the proposed location of a tailings dam in its gold mine proposal.Environment Minister Tanya Plibersek has rejected the suggestion that Regis Resources will face lengthy delays after she rejected its proposed goldmine in NSW.

A spokesman indicated the timing of the purchase is because the company released earnings last week, opening a window for when insiders are allowed to buy or sell stock. The timing also coincided with an increase in the gold price. "The number of reasons that Tanya Plibersek has come up with to reject the gold mine are multiplying into the absurd," shadow environment spokesman senator Jonno Duniam said on Tuesday.

"The last time I checked their share price had risen about 10 per cent, so I'm guessing that their shareholders and others think that there's a way through here," she said. The recent gain in the stock price has also been linked to a rising gold price, which would have helped the earnings outlook for Regis' existing gold mining assets.

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