Totally agree. McPhillamys is going to require massive capital to build the mill. Is this going to come from another CR? I think if they get approval for McPhillamys they would be better off selling it and collecting royalties from it. NCM may be interested as Cadia is down the road. The hedges have held the sp back and the $ required to build a mill will dilute SH capital and put RRL deeper in debt. IMO all goldies in OZ are way undervalued and still unloved and one day there will be a huge mean reversion to get back to fair value. IMO Twiggy missed out big time when he made a play for $1.48 but only got 13.5% when he wanted 15.5%. He would have made a shitload already and we haven't begun to take off.
RRL Price at posting:
$2.22 Sentiment: Buy Disclosure: Held
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