Most of the stocks I hold have strong visions, that is why I hold them. RRL... as I mentioned, its like the Telstra of the gold sector. Happy enough with mediocre, and feels like buying expensive assets and making its market cap bigger is enough...
I don't want empty promises, but... I do want goals and milestones so I can hold these incredibly well paid managers to account performance wise. No goals/milestones.... well.... hard to 'fail'.
As for McPhils. Sure... they are at the behest of the NSW government. However... they have had... an incredibly long time to be proactive in regards to meeting all stakeholders wants/needs (though of course, some may never be happy). Perhaps the project could have been re-sized to garner a more favorable view from the NSW government? What I do know... is the asset has done nothing, cost RRL a lot of money, when they could have looked at other assets, like CMMs project, which they walked away from... after making a soft bid. Which, I am 99% sure has proven to be a mistake.
perhaps all this fumbling will eventually lead to a mine, in a much higher gold price environment.... RRL has been lucky, as in reality, they would not be doing well at all without the much higher gold price.
RRL Price at posting:
$1.93 Sentiment: Hold Disclosure: Held
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