Agreed, should put McPhillys on ice. Terrible time to do a CR. Regis should conserve cash until those awful hedges run out. With the increased AISC, RRL might be cash flow negative next quarters depending on POG. So - Mine profitable ounces. Cut back discretionary spend to the bone. No divs. They are doing the above. Have confidence in Jim Beyer. He inherited McPillys & those hedges. At his previous gig MGX he did a good job managing a $400m+ cash pile when the seawall at KI leaked. Gold fell Thurs night, so our goldies tumbled on Friday. RRL -8% but not friendless eg RSG -7%, RMS -4% etc. Gold recovered some last night so perhaps better on Mon. Only another 3-4 weeks before FYr report.
RRL Price at posting:
$1.71 Sentiment: Hold Disclosure: Held
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