Hi Jogo, whilst I think you make a good point about the hedging and margins. The reality is, that its AIC that matters, and RRLs AIC is closer to $1800-2000 per ounce AUD, so the hedging is actually a loss making exercise.
That being said, I am leaning towards RRL being closer to the bottom share price wise, though, it will be interesting to see if they can actually achieve their guidance for FY2021, particularly, when it was weighted to the second half. I also wonder if they are seeing any pressures staffing wise.
AISC and AIC is going to be much higher for RRL in the near term, simply because of Tropicana (i.e. it is currently seeing large non-sustaining development costs and lower grade, but its planned).
Good luck to all holders.
Expand
(20min delay)