Callidus is a massive gamble.
Regis will not likely find funding for such a marginal project.
Regis needs to buy another asset to replace Duketon as production rates are about to fall off a cliff.
Pantoro is a much safer bet than the two you mentioned IMHO.
Having said all of that, if gold goes on an absolute tear, then RRL and CAI will be leading the charge higher.
Marginally profitable operations are always more leveraged to a rising gold price.
Ann: Half Yearly Report and Accounts, page-91
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