I've been out of RRL for a few months. I think I sold 20% on that director selling and then gradually offloaded the rest during 2016. On a relative value basis there is often better trading opportunities in the other high quality gold stocks like NST and EVN.
Quarterly was very solid. I've been a bit disappointed with the slow progress at McPhillamy's so good to see some results there but still appears to be a long way from production. The satellite deposits around Duketon also with continued good exploration results. Toohey's Well has some pretty spectacular grades for an open pit mineable deposit (at least in part) and feeding that grade into the Garden Well/Rosemont mill will make a big difference to costs.
Mine grade at Moolart Well was a standout due to Gloster deposit. That made up for the rain and going forward seems like Moolart Well is well set to produce like it was a few years ago.
RRL Price at posting:
$3.40 Sentiment: Hold Disclosure: Not Held
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