The continued selloff is most likely because of what is already known to the market:
- McPhilly's is likely going to be dead on arrival, capex figure far too burdensome (especially given RRL's existing debt)
- With their long-promoted growth project likely gone, they're now having to pump Duketon North/South and Rosemont as "Underground Growth" whereas in reality it's just replacing depleted ounces.
- The announcement didn't give any specifics and just ambiguously claimed that the spend would be "value accretive across a range of prices". This from the same management team who decided to wait until gold was hitting fresh ATH's before closing out their hedge book at a cost of $98M - not sure they understand what "value" looks like
It's no surprise to me that since 1st May, short positions have increased from 1.22% up to 3.27%. If you wanted to hedge your long-gold positions elsewhere with a sector underperformer, Regis is where you come.
The continued selloff is most likely because of what is already...
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Last
$2.54 |
Change
0.060(2.42%) |
Mkt cap ! $1.918B | |||
| Open | High | Low | Value | Volume |
| $2.56 | $2.59 | $2.54 | $11.38M | 4.463M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 40092 | $2.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.55 | 26938 | 2 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| RRL (ASX) Chart |