Part of it is Regis, but part of it is the entire sector as...

Part of it is Regis, but part of it is the entire sector as well. The below chart is Regis vs NST since Mid March. I might be cherry picking a little bit, but NST is the largest miner on the ASX and producing plenty to benefit from rise in gold price. There are other miners that have outperformed, but I feel most of those have moved more due to a) - significant exploration results, b) at a ramp up stage in their project and transitioning to producer, or c) have significant copper credits and seem to have moved on the copper price more than the AU price.

The sentiment in the sector I feel is improving, and we are starting to see the benefits of these prices flow through to the bottom line. Don't forget large parts of the market dont pay attention to the gold price and begin to take more notice once the profits start coming through.

The other part is Regis directly, it has been hedged for years, overpaid for tropicana (at the time, looks brilliant now), McP permitting and now construction costs mean its likely untenable for the next period (although higher gold prices make the economics stack up much better). In short, its a stock that has its share of despondent holders and sellers that from where we sit now have thrown the baby out with the bathwater.

It is extremely levered to the gold price, but overshadowed by the past of which some is justified. But as mentioned above, it is still a large producer with options to maintain that production ( I think Duketon reserves will surprise over the next 12-18 months...) but the market just looks at Regis as the red-headed stepchild.