Curtain-raisers see share price records tumble for gold miners including Newmont, Greatland and Capricorn

A number of local gold miners extended their scorching streak after a series of quarterly production updates on Wednesday saw share price records tumble again. Even the carnage caused by a vicious bushfire at the Boddington mine near Perth, which is Australia’s most prolific gold operation, could not dampen the spirits of investors. Newmont on Wednesday said it expects gold production at Boddington for the first quarter of 2026 to be about 60,000 ounces lower than planned, following a fire that raged through Christmas. “Operations were suspended on December 24, and once the emergency situation stabilised, site inspections on December 28 confirmed that critical infrastructure — including the pit, processing plant, tailings facility, and key administrative buildings — remained secure and undamaged,” the company stated. “However, we have identified damage to a portion of the site’s water supply infrastructure. “Production for 2025 was not impacted by the fires, given we were able to maintain production for the majority of December. Mining and processing operations have resumed, but the processing facility will run at reduced rates (50 to 60 per cent) until the main water supply infrastructure is restored.” Investors thought more of Boddington’s planned production would go up in smoke, with Newmont’s ASX shares finishing up 2.8 per cent to $158.50. Its announcement came on the same day a string of gold miners revealed they are swimming in cash following another quarter of record prices for the precious metal. Regis Resources told investors it was sitting on $930 million as at December 31, in a curtain-raiser for what’s likely to spell more healthy bank balances from local gold miners as December quarter results roll in over the coming weeks. Newly-listed Greatland Resources also rolled in with an update on Wednesday, tracking a cash balance of $948m as at the same period. Gold finished 2025 with its biggest annual price rise since 1979, bolstering the value of Regis’ 9505oz of gold bullion on hand to $6437/oz for a quarter-on-quarter cash build of $255m. That was even after the miner paid shareholders a dividend of 5¢ per share — worth about $38m to Regis, or 4 per cent of the current value of its coffers — to investors in October. Regis’ total quarterly gold production from its Duketon and Tropicana mines in WA has been estimated at 96,600oz, taking group output for the first six months to 186,900oz. The miner is chasing full year targets of between 350,000oz and 380,000oz. Smaller mid-tier Capricorn Metals also took to the ASX on Wednesday, advising it was likely to hit the upper-end of its 115,000oz to 125,000oz after producing 30,500oz during the December quarter. The Mark Clark-chaired business similarly benefited from high gold prices, reporting a cash and gold on hand of $444.2m at the end of the year from $394.4m in September. Shares in Regis finished up 2 per cent to $7.65 and Capricorn was higher by 1.85 per cent to a record $14.84. Newmont, Greatland and Capricorn hit all-time share price highs.