Hey Brian,
down almost another 10% today.
Would love to know what the biggest driver was for the larger sellers.
The rising AISC, or... the lowering of production with.... zero explanation or any real explanation of if it can be reversed with the current assets.
Perhaps the realization that RRL main production centre is running low of reserves, and even then, they are become less profitable...
In fact... I just had another read through and... looks to me like Duketon North is all but certain to go into C&M by early 2024.
Reserves end in Dec Q 2023, then stockpiles... but... they are 'under evaluation' in regards to whether they can even be processed economically.
The big 'flag', is that no growth capital was spent, vs Duketon South, with $25m spent. I guess that literally explains the drop in guidance. This also the implies that FY25 will see no gold from Duketon North, or... potential guidance of under 400k ounces, perhaps even closer to 350k.
In any case, RRL is cheap with an E/V sitting around $1.35b. BUT.....with all that debt still to be paid off, plus, funding McPhil, RRL have a large hill to climb and there is clearly the potential for a capital raising.
(20min delay)