Hi jman0076, I agree about deployment of capital. They earn an...

Hi jman0076, I agree about deployment of capital. They earn an extra $180M going forward which will translate to market capitalization over time.
That is extremely bullish for the share price IMO. I have stayed away waiting for the hedge to come close so this short-sheeted me a little here. That is OK. I believe they have to see the writing on the wall for gold here as I will elaborate a little.

I was traveling with a bunch of brokers and a gold analyst last year (I am not a broker or affiliated). They echoed your view about Tropicana as it was expensive when you looked at the metrics. I took a different view that it lowered group costs, diluted the hedge burden and added a strategic tier 1 asset to their portfolio. The MRE has increased with the LOM since that time I believe. Have not followed this too closely as I am widely spread. I see Tropicana as a long term asset that will just keep giving.

I have been doing a lot of work on gold of late on a momentum basis. Recency bias and relativity skew investors perceptions on price, making them think that gold is expensive now. It hit US1921 in September 2011 while other assets have surged far above all time highs since then. Fiat is crashing and the next wave of "inflation" will highlight that this year. I just sent a proprietary gold chart to GoldSilverPros, so we shall see if Rob uses it or not. It is strong evidence that gold is in fact cheap and embarking on a bull run this year. The turn for gold was October last year on a momentum basis. I did a study on silver as well and came up with this annual chart: Silver may be telling us something here too.




I believe gold's record annual close in 2023, record quarterly and weekly closes are more significant than people realize. Anyway, my quarterly chart on gold is telling; gold just getting started and that is great for RRL. It is great to read all the comments in here and I respect the views.

GLTAH CW