Most goldies dropped 5% today, surprising considering gold prices are only just off all-time highs. Tonight, gold prices look to be settling and in recovery mode from a minor drop the past week from around $2530usd. The gold price is now at $2501usd as I type this. Therefore, no reason for a big gold sector wide sell-off, so we should gain these share price losses back the rest of the week. Bargains on offer low 60c for RSG.
RSG management clearly have their eyes on a prize. Probably a few gold projects of value in the mid-tier space which they want to purchase. Early last year NST announced a 600M loan for M&A and they were around $11 at the time. Now they are around $15. I can't see this news as any reason for negativity for RSG, because like any investment or purchase, you need money to make money. Sure, RSG could wait 2-3 years to make a couple of hundred million in profit and be able to purchase another gold asset. However the time to buy and capitalise on any investment is clearly now. Especially with a non-hedging mindset. These are the times to be getting record profits, especially in Africa with heavy interest from Russia and China who are both very pro-gold and trying to scoop up as much as possible.
I am happy with this decision.
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Last
69.5¢ |
Change
0.010(1.46%) |
Mkt cap ! $1.479B |
Open | High | Low | Value | Volume |
68.5¢ | 71.0¢ | 68.3¢ | $7.914M | 11.38M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 68.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
69.5¢ | 185814 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10000 | 0.685 |
7 | 169111 | 0.680 |
4 | 176816 | 0.675 |
8 | 242748 | 0.670 |
11 | 242260 | 0.665 |
Price($) | Vol. | No. |
---|---|---|
0.695 | 185814 | 3 |
0.700 | 146304 | 3 |
0.705 | 179265 | 3 |
0.710 | 67140 | 3 |
0.715 | 106689 | 5 |
Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
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