To The Moon

As of the close on Friday, $S&P/ASX 200(XJO.AU)$ closed at 8,283.20 on Friday, up 0.84% in the past 5 days.

1. $REGIS RESOURCES LTD(RRL.AU)$ +22.69%

• Regis Resources Limited has announced that a significant shareholder, previously holding substantial interest, has ceased to be a substantial holder as of October 14, 2024. This change indicates a shift in the company’s shareholder composition, which may influence investor sentiment and market dynamics.

• Regis Resources Limited shareholders have had their patience rewarded with a 25% share price jump in the last month. The last 30 days bring the annual gain to a very sharp 48%.

• Retrospectively, the last year delivered a decent 11% gain to the company's revenues. Pleasingly, revenue has also lifted 54% in aggregate from three years ago, partly thanks to the last 12 months of growth. Accordingly, shareholders would have definitely welcomed those medium-term rates of revenue growth. Turning to the outlook, the next three years should generate growth of 1.1% per year as estimated by the ten analysts watching the company.

2. $WESTGOLD RESOURCES LTD(WGX.AU)$ +21.96%

• A flurry of interest rate cuts, political uncertainty in the US, and war in the Middle East has catapulted the gold price — bringing some of Australia’s biggest miners along for the ride. Mid-tier lynchpin Westgold Resources surged 21.96 per cent to also finish at a new high of $3.11.

• Westgold Resources Limited has announced a record gold production of 77,369 ounces in the first quarter of FY25 following a $1.4 billion merger with Karora Resources, projecting confidence in meeting their full-year production guidance. The company’s strong financial position is highlighted by $203 million in available funds, ensuring liquidity for ongoing capital investments. With production set to increase in the latter half of the year, Westgold is poised to continue breaking production records and enhancing asset value.

• The Company's cash, bullion and liquid investments at 30 September was $103.2m – net of the cash consideration and costs relating to the $1.4B Karora merger. With an additional $100m available in its undrawn Revolving Corporate Facility, the Company has $203m in available funds, bolstering liquidity during a period of peak capital investment.

3. $BANK OF QUEENSLAND LTD(BOQ.AU)$ +14.54%

• Bank of Queensland has announced its FY24 results, reporting a significant rise in statutory net profit after tax to $285 million, a 130% increase from FY23. However, cash earnings after tax saw a 24% decline to $343 million, reflecting challenges in a competitive lending market and rising operational costs.

• Looking at what might impact the Bank of Queensland share price in the year ahead, management expects stable margins and revenue benefits from business bank growth in specialist areas, and branch conversion. However, these will be partially offset by further reductions in mortgage balances. Expense growth is forecast to be broadly flat, with the transformation investment spend coming down materially. Capital is forecast to remain within management's target range of 10.25% to 10.75%.

4. $AMP LIMITED(AMP.AU)$ +12.41%

• Shares in the S&P/ASX 200 Index financial services company closed yesterday trading for $1.355. In morning trade on Thursday, shares are changing hands for $1.517 apiece, up 11.96%. For some context, the ASX 200 is up 0.92% at this same time. This outperformance comes following the release of AMP's third quarter update.

• One of the best-performing stock was AMP Limited, which surged 17.71% to $1.59 per share after releasing its Q3 cash flow report. The report highlighted a 76% increase in Platforms net cashflows, reaching $750 million, and a total loan book of $23 billion.

• ASX 200 investors are bidding up the AMP share price after the company reported a 76% year on year increase in platforms net cashflows of $750 million. North inflows from Independent Financial Advisers (IFAs) were up 47% from Q3 2023 to $832 million. Also showing growth were Platforms Assets Under Management (AUM), which increased by 5% from last quarter (Q2 2024) to $78.1 billion; and Superannuation & Investments AUM increased 3% from the prior quarter to $55.8 billion, with net cash outflows down 46% year on year to $334 million.

5. $Genesis Minerals Ltd(GMD.AU)$ +11.11%

• Genesis Minerals has reported a strong September 2024 quarter, hitting production targets and accelerating growth at its key operations. The company produced 36,020 ounces of gold at an all-in sustaining cost (AISC) of $2,628 per ounce, in line with the June quarter results. With the early restart of the Laverton mill in October, six months ahead of schedule, Genesis is poised for increased production for the rest of FY25, raising its guidance to 190,000-210,000 ounces of gold.

• Genesis is targeting significant growth through its "ASPIRE 400" strategy, aiming to achieve annual production of 325,000 ounces by FY29. The company has accelerated development at its Ulysses underground project, which is currently 65% ahead of schedule, and the Laverton mill is expected to contribute significantly to production.

• Managing Director Raleigh Finlayson remarked, “The early restart of the Laverton mill underscores our commitment to accelerating growth. We’re on track to meet or exceed our revised FY25 production and cost guidance, positioning Genesis as a leading gold producer in the Leonora region.”