The continued selloff is most likely because of what is already known to the market:
- McPhilly's is likely going to be dead on arrival, capex figure far too burdensome (especially given RRL's existing debt)
- With their long-promoted growth project likely gone, they're now having to pump Duketon North/South and Rosemont as "Underground Growth" whereas in reality it's just replacing depleted ounces.
- The announcement didn't give any specifics and just ambiguously claimed that the spend would be "value accretive across a range of prices". This from the same management team who decided to wait until gold was hitting fresh ATH's before closing out their hedge book at a cost of $98M - not sure they understand what "value" looks like
It's no surprise to me that since 1st May, short positions have increased from 1.22% up to 3.27%. If you wanted to hedge your long-gold positions elsewhere with a sector underperformer, Regis is where you come.
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$1.99 |
Change
-0.030(1.49%) |
Mkt cap ! $1.503B |
Open | High | Low | Value | Volume |
$2.02 | $2.02 | $1.95 | $7.246M | 3.664M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | $1.99 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.00 | 2000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | 1.985 |
2 | 14373 | 1.980 |
3 | 26998 | 1.975 |
4 | 69701 | 1.970 |
2 | 26998 | 1.965 |
Price($) | Vol. | No. |
---|---|---|
1.995 | 2000 | 1 |
2.000 | 78757 | 3 |
2.010 | 36562 | 2 |
2.020 | 13190 | 3 |
2.030 | 9290 | 1 |
Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
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