Also it was a smart move to buy Tropicana and instead of doing a capital raise and close the hedge book. Only issue was they paid around $250 to $300 million too much at that time. I think hedge book was out of the money by $450 millions then. If gold price goes lot higher and Tropicana is still producing same ounces then it is good move after 2years. We will enjoy the fruits of Tropicana next year.
RRL Price at posting:
$1.53 Sentiment: Buy Disclosure: Held
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