Hi Ben79, Its a sellers market at the moment for gold miners so I am sure Regis won't be accepting anything that is not a good offer. What is a good offer? I am not sure but I would assume it starts in the $3 range. Anything less than that is far too low with the Tropicana and McPhillamys catalysts coming around the corner and the 200day WMA being $2.57 which is only ~35% above current price. In my opinion (i don't hold RRL but am close to choosing between RRL and GOR to buy into), RRL might benefit from a merger. RRL's biggest drag is the hedge book. Too many ounces at such a low price. Its another topic entirely as to whether at the time of taking the hedge it was a good idea or not, but now the main drag on the share price compared to all other goldies is the outstanding hedge book.
Sorry not to answer your original question. If i had to guess my thoughts would be: 1 - Merger with no premium with another ASX miner. 2 - An offer above $3.50 would get board backing.
All the best, Mama Huhu
RRL Price at posting:
$1.93 Sentiment: Buy Disclosure: Not Held
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