A number of ASX 200 gold stocks are pushing higher on Monday. This has led to the S&P/ASX All Ords Gold index rising by an impressive 1.7% in morning trade.
This catalyst for this has been a solid rise in the gold price on Friday night amid interest rate cut hopes.
In addition, a couple of updates have given the shareholders of two ASX 200 gold stocks a reason to smile today. Let’s dig a little deeper into these updates now:
Ramelius Resources Ltd (ASX: RMS)
The Ramelius share price is up 3.5% to $1.98. This morning, this ASX 200 gold stock revealed that it achieved a production record of 293,033 ounces for FY 2024. This means that it has hit the upper end of its upgraded guidance of 285,000 to 295,000 ounces.
Another positive is that management expects its full year all-in sustaining costs (AISC) to be at the lower end of its upgraded guidance range of A$1,550 to A$1,650 per ounce.
This underpinned total free cash flow of A$315.8 million for the 12 months, boosting its cash and gold balance to A$446.6 million. The latter is up from a balance of $272.1 million at the end of FY 2023.
Regis Resources Ltd (ASX: RRL)
The Regis Resources share price is up 6.5% to $1.89. Investors have been buying this ASX 200 gold stock after it released its fourth quarter update.
During the quarter, the operational performance across its Duketon and Tropicana operations continued to recover from the major rain events that occurred in March. This led to Duketon producing 75,600 ounces of gold, resulting in FY 2024 gold production of 289,900 ounces. This is within its FY 2024 production guidance range.
Tropicana, which management notes experienced more significant impacts from the rain, has had a slower recovery. It produced 30,800 ounces of gold, resulting in FY 2024 gold production of 127,800 ounces. This was below its FY 2024 production guidance range.
Nevertheless, this couldn’t stop the gold miner from achieving production of 417,700 ounces of gold for the year. This was within its group production guidance range for the year.
And with Regis Resources now fully unhedged and receiving a $20 million tax refund, it reported a record $109 million increase in its quarterly cash and bullion balance. At the end of the period, its cash and bullion balance was at its highest ever level of $295 million.
The post 2 ASX 200 gold stocks racing higher on record results 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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