Regis Vindicated in Decision to Stop Hedging Gold -- Market Talk

Dow Jones04-29

2309 GMT - Regis Resources endured a difficult 3Q, but its improved cash position shows a decision to stop hedging gold prices was the right one, Bell Potter says. Regis added some A$31 million of cash in 3Q, equal to around A$342/oz. "This is a big improvement and, together with the rise in the gold price since closure of the hedge book (when spot A$ gold was A$3,050/oz), vindicates Regis's decision to close it," analyst David Coates says in a note. Regis needs to produce 105,000 oz of gold at an all-in sustaining cost of A$2,350/oz or better to meet the low end of production and high end of cost guidance, Bell Potter estimates. "This looks achievable, as both September and December quarters achieved better than this," the bank says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 28, 2024 19:09 ET (23:09 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2431112270?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-29 07:09","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2431112270","market":"nz","top_or_hot":-1,"title":"Regis Vindicated in Decision to Stop Hedging Gold -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2309 GMT - Regis Resources endured a difficult 3Q, but its improved cash position shows a decision to stop hedging gold prices was the right one, Bell Potter says. Regis added some A$31 million of cash in 3Q, equal to around A$342/oz. \"This is a big improvement and, together with the rise in the gold price since closure of the hedge book (when spot A$ gold was A$3,050/oz), vindicates Regis's decision to close it,\" analyst David Coates says in a note. Regis needs to produce 105,000 oz of gold at an all-in sustaining cost of A$2,350/oz or better to meet the low end of production and high end of cost guidance, Bell Potter estimates. \"This looks achievable, as both September and December quarters achieved better than this,\" the bank says. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 28, 2024 19:09 ET (23:09 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Regis Vindicated in Decision to Stop Hedging Gold -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRegis Vindicated in Decision to Stop Hedging Gold -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-29 07:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2309 GMT - Regis Resources endured a difficult 3Q, but its improved cash position shows a decision to stop hedging gold prices was the right one, Bell Potter says. Regis added some A$31 million of ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4192","symbol_name":"特殊消费者服务","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2431112270","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2431112270","pubTimestamp":1714345740,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2309 GMT - Regis Resources endured a difficult 3Q, but its improved cash position shows a decision to stop hedging gold prices was the right one, Bell Potter says. Regis added some A$31 million of cash in 3Q, equal to around A$342/oz. \"This is a big improvement and, together with the rise in the gold price since closure of the hedge book , vindicates Regis's decision to close it,\" analyst David Coates says in a note. Regis needs to produce 105,000 oz of gold at an all-in sustaining cost of A$2,350/oz or better to meet the low end of production and high end of cost guidance, Bell Potter estimates. \"This looks achievable, as both September and December quarters achieved better than this,\" the bank says. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4192":"特殊消费者服务","BK7104":"黄金","RGS":"Regis Corp","RRL.AU":"REGIS RESOURCES LTD"},"translate_title":"里吉斯停止对冲黄金市场言论的决定被证明是正确的","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RGS":1,"RRL.AU":0.9},"content_text":"2309 GMT - Regis Resources endured a difficult 3Q, but its improved cash position shows a decision to stop hedging gold prices was the right one, Bell Potter says. Regis added some A$31 million of cash in 3Q, equal to around A$342/oz. \"This is a big improvement and, together with the rise in the gold price since closure of the hedge book (when spot A$ gold was A$3,050/oz), vindicates Regis's decision to close it,\" analyst David Coates says in a note. Regis needs to produce 105,000 oz of gold at an all-in sustaining cost of A$2,350/oz or better to meet the low end of production and high end of cost guidance, Bell Potter estimates. \"This looks achievable, as both September and December quarters achieved better than this,\" the bank says. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 28, 2024 19:09 ET (23:09 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2431112270"}