I'm out. IMO, div needed to be at least 4 cents to be "reasonably good". Total of 7 cents for the year is only enough to hold the current SP, not enough to substantially increase it. The die is set. Reducing divs. Next interim div might only be 2 cents.
Guidance from todays announcement - As noted previously, the September quarter is expected to be soft due to major scheduled mill shutdowns, pit re-scheduling requirements and Rosemont underground rebasing into its steady state production rates.
What this means is that the excuses have already been made in advance for poor performance next quarter.
Wonder if some of the "smart money" big players who paid $2.70 are now reassessing their positions. $2.70 seems to be confirmed as an overhang for at least another six months.
RRL Price at posting:
$2.56 Sentiment: None Disclosure: Not Held
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