RRL has been under performing most of the gold stocks for the last month. Funds selling and a director selling doesn't help, particularly from a sentiment point of view.
I think it is at fair value now and there isn't a rush to buy. That's understandable since the short term production trend is sideways at best and the medium term growth options look fairly limited.
Short positions have unwound to 6.5% from a peak of over 10% at the start of the year. The squeeze that looked possible hasn't eventuated probably because of the shorts buying back a lot of stock from the funds exiting.
I think Regis management will consider the purchase of Barrick's Cowal gold mine in NSW. It is within the region of McPhillamy's deposit (~150km away) and Regis could see the potential to build a long term regional presence like they have in Duketon. The price is probably $200-300M which Regis could finance through a capital raising and debt funding. I guess it depends on how badly Barrick wants to sell. Regis is not exactly in a position of strength but they need to show growth to the market.
Regis has clearly been replaced as the top mid-tier gold stock by Northern Star and looks like a lot of institutional money is now going into Northern Star instead.
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Last
$4.36 |
Change
0.060(1.40%) |
Mkt cap ! $3.249B |
Open | High | Low | Value | Volume |
$4.35 | $4.42 | $4.35 | $1.505M | 344.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 862 | $4.36 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$4.37 | 3909 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 11865 | 4.540 |
4 | 7923 | 4.530 |
1 | 18 | 4.520 |
11 | 8756 | 4.510 |
2 | 662 | 4.440 |
Price($) | Vol. | No. |
---|---|---|
3.440 | 33 | 1 |
4.040 | 3145 | 10 |
4.080 | 6465 | 1 |
4.090 | 4213 | 4 |
4.100 | 2000 | 1 |
Last trade - 10.08am 22/07/2025 (20 minute delay) ? |
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RRL (ASX) Chart |