RRL +10.69%: a record last quarter helped Regis rally today with the gold miner managing its production better than peers in a tough period. A total of 124koz was produced in the 4th quarter, up 20% QoQ, taking the full year’s production to 437koz, just shy of the midpoint of previous guidance. Costs were higher though and the company expects the average cost for the full year to come in slightly above the previous $1,425-1,500/oz guidance. More detail will be provided in the quarterly update due in a few weeks, however, FY23 is expected to see production growth continue, though I suspect costs will also climb given the labour and energy inflation hitting the sector at the moment.
MM is cautiously bullish RRL
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