The Regis Resources Ltd (ASX: RRL) share price edged 1% lower to $6.48 this morning after the gold miner flagged record annual production of 363,418 ounces of gold at an all in sustaining cost to produce of A$1,029 per ounce.
Today the gold price has rocketed way above that thanks to expectations that US Fed is set to cut rates, with gold sitting at US$1,419 (A$2,000) an ounce we can see that Regis and its Aussie gold mining peers such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) are operating at very high net profit margins near an FX-adjusted $1,000 per ounce.
The company's CEO called Regis's year "outstanding" with cash and bullion reserves rising by $18.7 million over the quarter to total around $205 million.
"The outlook for our Company is exciting with guidance indicating another year of similarly strong production levels while the growth project work we are doing this year sets the scene for our production to continue increasing over the coming years," reported, Jim Beyer, the CEO.
If gold prices keep climbing on the back of US Federal Reserve rate cuts and the value of cash and yields fall, then gold as a 'store of value' could keep rising in price.
In turn popular gold shares on the ASX could continue their meteoric rise. Regis shares are up around 80% over the past year alone.
Be warned though as the price of gold can move in mysterious ways and the US Fed's next moves more than 6 months out are anyone's guess.
