Pretty good long term deal. Hedges are diluted and bought an insta cash flow accretive asset with 10 year + mine life.
Tropicana is an expensive asset and decided to get involved in a world class asset - fine by me.
Weak in short term but as half and full year reports roll in 2-3 years investors will only care about the cash thats rolling in & Tropicana is a cash cow.
RRL probably think this is bottom of gold cycle as if POG is trading $2.5k+ Tropicana would be worth alot more on sentiment alone.
Don't care about the full take up as sentiment in gold is sub average. More world class assets the better imo.
RRL Price at posting:
$2.69 Sentiment: None Disclosure: Held
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