A pretty average outcome with lots of things to fix up over the next 9 months. I am a bit surprised that Tropicana did not produce more gold - perhaps that starts from early next year - but that AISC was very good given the level of production is expected to substantially increase.
The high cash burn is due to a range of factors, mostly capex, but also dividends etc.
I am expecting much better things in their March and June 2022 quarterly reports.
The share price is cheap for some good reasons - LOM a bit low, recent share dilution, McP project still in limbo, capex spend, rising costs, missed targets, labour issues, excess hedging at low prices due to former mismanagement.
But for a 460-500k ounce pa gold producer, the market cap is too low so I bought some more RRL shares at $2.14 today.
GLA.
loki (if I lose on RRL then I am hoping that my KCN shares will make up for the lose - or is that how a gambler thinks to justify their losses?.)
RRL Price at posting:
$2.14 Sentiment: None Disclosure: Held
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