Ann: AGM Presentation, page-35

Hey mnb - I have posted quite a bit on RRL (hopefully a fairly balanced view).
In summary, they had some good years not so long ago, but got complacent about their reserves situation.
The AISC has increased, their production profile has stagnated. Dividends are nice, but... investors want capital growth and dividends, in that order.
RRL has not been able to get McPhillamys into production like they originally planned (should have been in production years ago).

RMS and SLR are giving RRL a run for their money, with their huge capital growth (though... they are not paying the big dividends RRL is).

That all being said, change is occurring. Huge exploration spend, U/G mines being brought into the mine plan, and.. McPhillamys is perhaps, back on track. I simply like RRL because it has lost its shine, but... with a lot of polish, it will hopefully, prove to the market that they are no longer a lazy dividend player.

Regarding the share price, to be honest, the whole sector, particularly the producers, have come waaay off their highs.
RMS at $2.50 (now $1.69) etc. Though RRL has fared worse than most - justly so really.

The more I ponder RRL, the more I wonder if they are indeed going to participate in a merger of some sort soon. But, that is just speculation on my part.