I would not invest in a company where I had no faith in management assertions. Slide 15 of the AGM presentation says:
”McPhillamys- Approvals in Final Phase”.
The project is close to coming into fruition. Any project that has been slow is also going to have the benefit of adding output at record gold prices.
The relative value of RRL compared to the likes of RMS and SLR is absolutely outstanding based on respective production profiles.
The absolute cherry on the cake is the 4.2% fully franked dividend yield. I am an early retiree thanks to precious metals and have been positioning myself into RRL at the current price level as the dividends will cover my living expenses. I also believe that production volume will easily trump margin as the POG breaks $AUD3,000. A company with a circa 400k oz/pa production profile will do much better than a company with a 250k Oz/pa output.
I believe that 2021 will be a very good year for RRL and for investors taking advantage of the company currently being on sale.
RRL Price at posting:
$3.77 Sentiment: Buy Disclosure: Held
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