At less than 1g/t RRL has to be extremely efficient operators (along with their contractor MACA) to be profitable, especially in what is still a high cost domicile despite the falling AUD.
I recall BB from NST quoting in a previous presentation that the low-cost bulk miners day's in the sun were over given the current POG and it would be the higher grade, smaller volume operations that would take their place.
Am I recalling correctly that your recent report made note of the COO leaving who was regarded as a mining guru? If correct, maybe this announcement reflects his loss of talent.
There's always a point to re-enter but IMO it is not here.
Cheers
John
RRL Price at posting:
$1.53 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)