Bang on comment. I have no problems with the asset, it's what they paid for it. It works at a minimum gold price of US$2050/oz otherwise it's dilutive for Regis shareholders. They've bought a very expensive revenue stream when compared to they're own development assets. There's no corporate appeal being a minority holder in an asset and there's certainly no accretive synergies here either. Doesn't make sense except for IGO. The board have just overseen a value movement from their shareholders into the pockets of IGO. This was one of the cheapest, best valued mid tier miners here, now it goes close to the bottom value wise. I was a long term holder, this purchase precludes me owing it on a valuation basis. Goes from buy to sell.
RRL Price at posting:
$3.17 Sentiment: Sell Disclosure: Held
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