Good steady progress by the look of it. Another $20m of debt gone and now and cash & bullion increased by $3.7m Thus positive $23.7m generated for the Q and RRL is now net cash flow positive.
RRL will become completely debt free in the next Q based on guidance that Q1 will be very similar to Q4 and thus, will have a surplus cash position of c. $33.4m cash by the end of Q2 and NIL debt.
That should mean a dividend announcement with the end of financial year report after June.
Steady as she goes but I don't anticipate stellar SP performance from here given the massive rise off the $1.28 lows. Shorters likely to take comfort that there was no unanticipated upside surprise and should continue to slowly cover their positions without panicking.
Cheers
John
RRL Price at posting:
$2.08 Sentiment: None Disclosure: Held
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