Regis Resources shares lift on strong quarterly production
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More news: Shares in Regis Resources jumped nearly 6% to $2.75 in early trading after the gold miner outlined higher December quarter production and said record gold prices helped deliver a record increase in cash.
Gold production rose to 101,300 ounces for the three months to December, helping the company maintain its full-year production guidance.
Regis Resources lifts December quarter output
The news: Gold producer Regis Resources has lifted December quarter production and said record gold prices helped deliver an increase in cash.
The numbers: Gold production rose to 101,300 ounces for the three months to December, up from 94,500 ounces delivered in the preceding quarter.
The company has maintained full-year production guidance between 350,000 and 380,000 ounces.
The context: Regis said its Duketon mine in Western Australia delivered 58,300 ounces in the quarter, while the Tropicana mine output rose to 43,000 ounces.
Record gold prices in the quarter helped to build record cash and bullion to reach $149 million in the quarter, it added.
The gold miner recorded a $186 million loss in FY24 due to a writedown in the carrying value of its under development McPhillamys mine in NSW after an environmental protection declaration by the federal government. It commenced legal proceedings in November, challenging the decision in the Federal Court.
The source: ASX announcement
