Good question!Possible factors that led to the significant...

Good question!
Possible factors that led to the significant decline in RRL share price over the last 3.5years:
- Mid 2020 - Declining ounce output from existing mines - RRL was caught on the back foot. In order to retain annual output they had to respond. They were exposed and vulnerable. the market caught on and the spare price began to decline.
- 30% purchase of Tropicana - RRL negotiated the 30% share of Tropicana from a position of weakness. The deal was expensive. Large equity raise to help fund the purchased caused further share price decline.
- Significant volume of gold hedging at a price that to be fair at the time looked ok but effectively turned into a profit stripping nightmare. Profit stripping because RRL’s AISC rose so significantly (COVID and post COVID) at once point they were banking a net loss of around $500 an ounce. Added Nightmare being the declining output and rising spot gold price - pouring salt on the wounds. It is estimated RRL will be 150ish million more profitable PA now that hedging is complete.
- 2022 RRL’s best asset Duketon had significant issues and required considerable capital to resolve.Delays in McPhillamys mine development (approvals)
- 2023 net loss - 30m ish million from memory!

Plus many more events that occurred over the 3.5ish years.The positives moving forward for me are that hedging is finished, McPhillamys is approved, mine productions and reserves have stabilised and most of all the AU gold price is over $3000 an ounce and trending steadily upwards! This is huge.I agree the share price has bounced between 1.5-2.40ish several times of the last few years but I think we are past this and moving forward in a very positive direction.

Additionally. the market has been negative the last few days and many stocks have been affected including RRL - not let this effect your conviction it will prove short lived IMO. Consolidation at low $2 level is fine, the next leg up will come soon enough.

But don’t just believe what you read on here, read the company reports for the last 6 years and build your own conclusion. Estimated 100-150m profit for 2024 will do very good things for the share price. All the best!