Regis Resources March quarter output dips; on track for FY guidance

The news: Gold producer Regis Resources has posted a drop in March quarter production but said it remains on track to achieve full-year guidance.

The numbers: Gold production for the three months to March came in at 89,700 ounces, down from 90,600 ounces a year ago and 101,300 ounces in the December quarter. The company did not specify any reasons but has maintained full-year production guidance between 350,000 and 380,000 ounces.

The context: Regis said its Duketon mine in Western Australia delivered 58,100 ounces in the quarter, while the Tropicana mine output was 31,600 ounces. Record gold prices in the quarter helped in buildup of $138 million in cash and bullion.

The gold miner will provide detailed quarterly results on 30 April.