IGO have ripped off RRL here. Congrats IGO holders, condolences RRL holders.
This is an absurd deal which may sense if gold was higher, but now it's fallen back, we pay effectively $400 per ounce? Plus we encumber the company with heavy debt burden when we're trying to develop McPhillamy's? There were much better choices for purchases out there at this price.
I'm lucky I only got a small parcel at 2.88, but i'm selling at open, this is going to be stuck in the mid low 2's for a long time unless a gold miracle rally.
Everything which convinced me to bite is gone, Debt free, gone, Lowered Exposure to gold volatility, gone, If gold dips to $1900 AUD (10%), we're basically losing money per ounce at Tropicana already? 1520AISC + 400 purchase cost
RRL Price at posting:
$3.17 Sentiment: Sell Disclosure: Held
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