Shares of Regis Resources (ASX: RRL) rose as much as 2.54% to AU$1.82 apiece1, marking the largest gain since 12 April 2024 if the current gains hold. The gold producer and explorer's strong performance in the June 2024 quarter has contributed to this uptick, with total group gold production reaching 106.4 thousand ounces (koz).
Solid Annual Production Figures
Regis Resources reported group production of 417.7 koz of gold for the fiscal year 2024 (FY24), aligning with the company's production guidance range. This solid performance underscores the company's ability to meet its targets and sustain robust operational output.
Highest Share Price Since Early June
The stock reached its highest level since 7 June 2024, reflecting investor confidence in the company's recent performance and future prospects. Despite this positive momentum, Regis Resources' stock has faced challenges, being down over 18% so far this year as of the last close.
Future Outlook
The recent surge in share price signals a potential recovery for Regis Resources. As the company continues to deliver on its production targets and strengthen its operational capabilities, it may attract more investor interest. Additionally, maintaining a steady production output and meeting guidance expectations will be crucial for sustaining this upward trajectory.