1. Real chance of missing cost and production guidance for FY22. Q1/Q2/Q3 results trend is not good. Unless a magical rabbit is pulled out of the hat in Q4. Real risk here. 2. Cashflow even accounting for the $25m gold sale in Apr is at best net +$12m on the quarter. Excluding the one off tax payments that is +$2m on the quarter. Viewing in the perspective gold price is at all time high is abit scary. 3. CFO resignation/leaving on 11th May but no announcement. 4. There has been no real progress on Mcphilamys
Before I wasn't sure why RRL the short interest is so high when gold price is at all time high (14th Apr ~7.9% shorted) and the company did not release any announcements/bad news. Reading this quarterly report it makes sense the case for the shorts. High cost (and increasing) and low production figures will probably continue given the current WA market conditions. Gold price going down from here is a real risk for the company scrapping the dividend.
RRL Price at posting:
$2.05 Sentiment: Sell Disclosure: Not Held
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