Regis Resources Drops as Gold Pulls Back; Focus Shifts to Vault Deal
Regis Resources dropped 3.52% to A$5.76 at the close on Tuesday, as selling swept through Australian gold stocks before the next ASX cash session. Volume was higher than usual at 6.23 million shares. Northern Star Resources, Evolution Mining and Vault Minerals were also down. Regis is trading on two big threads right now — softer bullion prices and the proposal to absorb Vault Minerals through an all-scrip deal. Shareholders would get Regis shares, not cash, if the deal goes through, potentially shaking up Australia’s mid-tier gold names. When the dateline hit, the ASX cash market was still in pre-open; normal hours start at 09:59:45 and end at 16:00 Sydney time.