It's a sea of red today, but one S&P/ASX 200 Index (ASX: XJO) gold stock is managing to defy the broader market sell-off.
During the lunch hour on Friday, the ASX 200 is down 1.6%.
The S&P/ASX All Ordinaries Gold Index (ASX: XGD) – which also contains smaller gold miners outside of the ASX 200 – is faring even worse, down 2.5%.
As for Regis Resources Ltd (ASX: RRL), the gold miner's shares are up 1.8%, trading for $1.95 per share.
Why is this ASX 200 gold stock gaining today?
The Regis Resources share price is gaining today after the miner reported a record year of gold production for FY 2023.
June quarter gold production came in at 122,479 ounces.
This sees the ASX 200 gold stock produce a total of 458,354 ounces of the yellow metal in the 2023 financial year. Regis reported just over 327,000 ounces of gold produced at its Duketon mine and just over 131,000 ounces from its Tropicana mine.
The full year's gold production is within, though on the lower end of, Regis Resources' original FY 2023 production guidance of 450,000 ounces to 500,000 ounces.
"We are very pleased to deliver a record year of gold production for FY23. Most notably, the June quarter saw our operations drive a cash and bullion build of $39 million," Regis CEO Jim Beyer said.
The ASX 200 gold stock reported that cash and bullion increased to $243 million as at 30 June. That's up from $204 million on 31 March.
Beyer noted:
With commercial production declared at both Garden Well underground (Duketon) and Havana open pit (Tropicana) we have commenced the journey from investment phase to having two cash generating pillars that can be used to help fund our growth project, McPhillamys once approved.
Regis will release its full June quarter report, including FY 2024 production and cost guidance, on 27 July.
The miner will host an investor update conference call with institutional investors and analysts at 11am (AEST) on 27 July.
Regis Resources share price snapshot
Despite a retrace in 2023, the ASX 200 gold stock is up 29% over the past 12 months.
