3 ASX 200 resources shares on the move following quarterly updates

Man in yellow hard hat looks through binoculars as man in white hard hat stands behind him and points.

Man in yellow hard hat looks through binoculars as man in white hard hat stands behind him and points.

There has been a lot of activity in the mining sector on Wednesday, with a number of ASX 200 resources shares releasing their quarterly updates.

While some of these updates have gone down well with investors, others haven’t been received particularly well.

Here is a summary of what these three ASX 200 resources shares have reported today:

Iluka Resources Limited (ASX: ILU)

The Iluka share price is rising 2% today after the mineral sands producer released its fourth quarter and full year update. Iluka reported Zircon/Rutile/Synthetic Rutile (Z/R/SR) production of 157,000 tonnes for the fourth quarter, taking its full year production to 679,400 tonnes.

And while its production and sales volumes were lower year over year, stronger prices led to revenue growing 16.3% to $1,727.4 million. The company also revealed that it sold out of zircon during FY 2022.

Ramelius Resources Limited (ASX: RMS)

The Ramelius share price is falling 2% on Wednesday after the gold miner’s quarterly update disappointed investors. Ramelius reported gold production of 56,756 ounce at an all-in sustaining cost (AISC) of A$2,153 an ounce.

The latter was an increase of 12% quarter on quarter and driven largely by lower grades. However, management has reaffirmed its full year guidance of 240,000 to 280,000 ounces at an AISC of A$1,750 to A$1,950 an ounce.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is down 3% this morning. This follows the release of the gold miner’s quarterly update. That update reveals that Regis delivered quarterly gold production of 117,300 ounces at an AISC of $1,760 an ounce.

And although management has reaffirmed its FY 2023 guidance of 450,000 to 500,000 ounces at an AISC of $1,525 to $1,625 an ounce, it expects the latter to be at the high end of its guidance range. This is due to gold production increases and strip ratios decreasing at Duketon North.

The post 3 ASX 200 resources shares on the move following quarterly updates appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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