Why is Regis Resources (ASX:RRL) in the news today?

Australia-based gold producer and explorer Regis Resources Limited (ASX:RRL), held its Annual General Meeting (AGM) today (24 November 2022) wherein the company termed FY22 a year of consolidation.

Regis stated in its AGM that a rising diesel price along with softening of USD gold price resulted in a considerable lowering of gold valuations on a global level.

Meanwhile, Regis shares closed 0.263% higher at AU$1.905 apiece on the ASX today.

Key highlights from the FY22 results and the AGM

• James Mactier, the Chairman, informed that though the company’s share performance was disappointing, its underlying business continued to strengthen.
• The company declared a final, fully-franked dividend of 2 cents per share.
• 2022 represented the first full year of ownership of Regis’ 30% interest in the Tropicana mine.
• The company registered a record gold production of 437koz in FY22.
• The cash flow from operating activities stood at AU$347 million.
• The All-in sustaining costs (AISC) stood at AU$1,556/oz while AISC margin was at AU$756/oz.
• The cash and bullion, as on 30 June 2022, was at AU$231 million with net debt of AU$69 million.
• The EBITDA for 2022 stood at AU$336 million.
• Regis Resources shared that it expects to achieve net zero by 2050.
• The company also marked a 116% increase in rehabilitated land and a 32% increase in community investment and support.

Share price performance of Regis Resources Limited 

The shares of Regis Resources have gained 0.79% in the last five trading days on the ASX. In the last month, the shares have surged 27.85% on the ASX. However, in the previous six months, the shares have shed 7.97%, and in the previous one year, the shares have fallen 1.30% on the ASX. On a year-to-date basis, the shares have gained 0.26% on the ASX (as of 4:10 PM AEDT, 24 November 2022).