I have recently topped up in RRL, after intial investment at $3.03. Received nice dividend.
In the mean time, NAB has become a substantial shareholder, (As per ASX ann), up to $4+.
GOLD was sold short, and all gold stocks got oversold. Numerous anns from the panic.
One director from one of Australia's largest gold producers, that had a rights issue etc., made a statement about the price of gold by December being up to $1900 US an ounce. Well, so what?
RRL keeps operating a cashflow positive business, that's why NAB bought in. The other stock of interest
in the gold oversell is OGC, which operates in the Phillipines. The ann virtually told everyone to go and get lost, as they had world best practises in place in the Phillipines, and high grade/low cost operations.
Quiet achievers who don't think much of the "punters" betting on GOLD up or down.
As RRL and others don't issue rights, or make predictions on future prices, maybe the board of these
companies, are quite happy with their position for the future. However, I have not yet looked at the current hedging prices on production.
Strong buy at $3.50. Nice yield over 3%, with heaps of upside.
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