Ann: Sale of Ravenswood Gold Mine, page-54

So my BUY BUY BUY comment on the 13th of Jan turned out okay.
I was indeed buying. Sold some already.
A good 8-10% up from that day.
Better returns then putting money in Super for the whole year.

Finally RSG is sorting it's business. Ravenswood sale is an excellent outcome.
$50 million cash, $50 million guaranteed money with 6% annual return for 7 years which could be up to $71 million. And the other $50 million related to future gold price from $1900-$2100 for the next 4 years looks very achievable, considering the gold price is already $2250 and going higher.

The rest $150 million with upside sharing is a bonus if that eventuates. Maybe the new buyers will make it work. At the current situation,Ravenswood was losing money and RSG couldn't risk throwing more money over there to make it profitable. The new owners might have the balance sheet for the REP.

The shorts are trying to cover below $1.20. I sold some to the shorts. Still holding a bundle.
There could be another push down after the quarterly results. Or it could jump 7-8% higher like SBM yesterday. Don't know, but keeping some powder dry in case we see 1.10-1. 12 again.  It feels like they will try pushing it down. If that happens, I'll be again BUYING BUYING BUYING.

My target over $1.40-1.50 by the end of July 2020. (20-25 % return in six months time)

Overall RSG is at a good buying level. I have taken my money out of PRU, SLR & RMS and putting it in RSG and some not so overvalued miners like WGX , SBM, NCM and some other dogs.
There is a 5-10% downside risk compare to a good 30-40% upside and more depending upon the operational improvements.





(@colinchi  Are you still waiting for 40c for PRU and Gold at  USD $1200 . @colinchi is a good fun to read, keeps everyone amusing with his colourful comments.)