Why did Regis’ (ASX:RRL) shares close over 12% higher today?

November 09, 2022 04:12 PM AEDT | By Ritwika
 Why did Regis’ (ASX:RRL) shares close over 12% higher today?
Image source: © Scanrail | Megapixl.com

Highlights: 

  • Regis Resources’ shares ended trading 12.500% strong on the Australian Stock Exchange (ASX) today. 
  • Recently, Regis shared its September quarter results, reporting AU$76 million in operating income 
  • Recently, Regis also paid a fully franked final dividend of 2 Australian cents per share to its eligible shareholders.  

Shares of gold explorer and miner Regis Resources Limited (ASX:RRL) closed trading significantly higher on the Australian Stock Exchange (ASX) today. The company’s share price appreciated by 12.500% on the ASX to AU$1.777 per share today. 

The share price of Regis Resources has declined by 13.18% on the ASX in the previous 12 months. Moreover, on a YTD basis, the company’s share price has fallen over 8% on the ASX (as of 4:10 PM AEDT today). 

Recent updates from Regis Resources: 

Regis’ September 2022 quarterly results: 

  • Regis Resources recently came up with its quarterly activity report for the September quarter ended 30 September 2022. In its quarterly report, the company mentioned the following: 
  • A total of 106.1 Koz gold sales were reported by Regis for a total of AU$243 million at an average realised price of AU$2,294/oz in the September 2022 quarter. 
  • The company generated total operating cash of AU$76 million during the given period.  
  • Regis’ cash and bullion stood at AU$157 million on 30 September 2022. 

During the September 2022 quarter, Regis made the following investments: 

  • AU$68 million in capital expenditure. 
  • AU$16 million in the McPhillamys exploration project.
  • AU$39 million for paying one-off costs for stamp duty related to the Tropicana acquisition
  • AU$$21 million investment for acquiring a rural property in New South Wales. 

Dividend distribution: 

Based on earnings from the September 2022 quarter, the board of Regis Resources paid a fully franked final dividend of 2 Australian cents per share to its eligible shareholders on 28 October 2022.


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