I've taken a small but helpful profit on 2 short term trades in the last 2 months.
I feel the result was good, the dividend made sense (in hindsight), Tropicana is going to turn out to be a masterstroke, and the share price has been beaten down to around this level 4 times in the last 2 months.
I *think* a break below this level is unlikely, but in saying that I don't have a stop in place because if it was to go down to $2.20 and $2, I would be buying more at those levels.
I am looking for $3 by the end of the year. I think Tropicana will delight.
I am also excited by McPhillamys.
Although the company is being asked to jump through hoops for the approvals process, I think there is a pretty good chance it will get "State Significant Project" status once it is finally approved - https://www.planningportal.nsw.gov.au/major-projects
I am confident we will be back above $6.50 (all time highs) within 3 years, and I am hoping for $0.25c (4%) dividends, which is 10% on today's prices.
RRL Price at posting:
$2.39 Sentiment: None Disclosure: Held
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