Three S&P/ASX 200 Index (ASX: XJO) gold shares are rocketing higher on Wednesday.
Investors are bidding up the big Aussie gold producers following some enticing quarterly updates.
And recent record-high gold prices certainly aren't hurting.
Here's what's happening.
The first ASX 200 gold share enjoying a strong run today is Perseus Mining Ltd (ASX: PRU).
The Perseus Mining share price is up 4.1% at the time of writing, with shares trading for $2.27 apiece. That's up 37% since the gold rally kicked off in mid-February.
Investors are clearly pleased with quarterly gold production of 127,471 ounces, which brings the miner's financial year to date gold production of 389,048 ounces.
On the cost front, the weighted average all-in sustaining costs (AISC) of US$1,091 per ounce, came in slightly higher than the prior quarter, as management had previously indicated was likely.
Average gold sales price the ASX 200 gold share received increased by 3% from Q2 FY 2024 to US$2,025 per ounce. The quantity of gold sold slipped to 115,648 ounces, which management said was due to the timing of gold shipments and sales.
Perseus reported notional operating cash flow of US$119 million for the quarter and US$373 million for the nine-month period to 31 March.
As at 31 March, the miner had an available cash and bullion balance of US$702 million, plus US$74 million of listed securities, with no debt and US$300 million of undrawn debt capacity available.
Which brings us to the second ASX 200 gold share soaring higher today after releasing its quarterly update, Regis Resources Ltd (ASX: RRL).
The Regis share price is up 3.3% at the time of writing, at $2.17.
Investors look to be rewarding the miner after management maintained its FY 2024 guidance despite the impact of "substantial and protracted regional wet weather".
Regis is forecasting full year gold production of 415,000 ounces to 445,000 ounces and an AISC in the range of $1,995 to $2,315 per ounce.
Regis produced 90,600 ounces of gold over the quarter at an AISC of AU$2,735 per ounce. Costs included an AU$234 per ounce non-cash inventory adjustment and were also hit by the March rains.
As at 31 March, Regis held cash and bullion of $186 million, up $31 million.
The third ASX 200 gold share charging higher today on the back of its quarterly update is Silver Lake Resources Ltd (ASX: SLR).
The Silver Lake share price is up 3.3% at the time of writing, with shares trading for $1.42 apiece. That sees the share price up 42% over six months.
Silver Lake produced 64,967 ounces gold and 349 tonnes copper (66,268 ounces gold equivalent) over the three months. It sold 64,463 ounces gold and 338 tonnes copper at an average sales price of AU$3,110 per ounce and AISC of AU$1,522 per ounce.
Year to date the miner produced 186,666 ounces gold and 890 tonnes copper (189,984 ounces gold equivalent) with sales of 187,244 ounces gold and 872 tonnes copper at an average sales price of AU$3,029 per ounce and AISC of A$1,695 per ounce.
As at 31 March, Silver Lake held cash and bullion of $342 million.
Looking ahead, management said the proposed merger of equals with Red 5 Ltd (ASX: RED), which was announced in February, remains on track for implementation in June.
The ASX 200 gold share is also likely drawing investor interest after noting it is "well-positioned to exit FY 2024 having delivered or exceeded group sales guidance for the 10th consecutive year".
FY 2024 guidance is for 210,000 to 230,000 ounces at an ASIC of AU$1,850 to AU$2,050 per ounce. Those costs include AU$168 per ounce in non-cash inventory charges associated with the treatment of stockpiles at its Mount Monger gold mine.