I suspect not, because RRL didn't actually substantiate why it was such a good asset to buy..........which I am pretty peeved about, shotty marketing by RRL in there announcements.
But if you do........you will begin to see why they didn't over pay.... I will post the Mineral Resource and Reserve Ore Report Section on Tropicanna for AGG's ....... I will post shortly.
By the way, I believe the underwriters to the cap raise, that need to bridge the gap are buyers sub issue price. Why wouldn't they be if they can buy at sub raise levels, but we must also remember that they have an incentive to push the price down to accumulate, but if US POG gets another monthly green candle then they will be forced to bid up, otherwise there opportunity to buy up gets weakened.
Yes - India Covid is a bit of a problem right now, as India represents 37% of all Gold sales, and if an extended lock down occurs we can see continued softness, because families can't go to shops and buy shops... but if POG can get to 1774 today/tonight and hold after the release of US PMI (which could signify inflation or not).... we will see a sustained push toward 1788, providing yields behave. But i have to be balanced here and say that the last week has moved us toward a bearish or consolidation trend.
RRL Price at posting:
$2.63 Sentiment: Buy Disclosure: Held
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