Bad day for golds all round - the market is still betting on further rate rises by the FED .... till they break something as the old saying goes.
The A$ gold price is holding up as the RBA finally relents (after much justified criticism) .... real wages continue to shrink despite recent nominal increases.
The labour and skill shortage in mining will continue the push for more A.I. automation like A.I. driven trucks which would suit KOTH ??
So, I expect that RED management will focus on what they can control (to a degree) - production, grade and the relentless search for operational efficiencies. Also, needless to say, the need for a cash buffer is of paramount importance - hence the urge to extinguish debt will need to tempered in the short term - NOT a good time to be negotiating with financial vultures.
From where I sit RED looks sound, but earth quakes can change minds quickly.
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Open | High | Low | Value | Volume |
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---|---|---|
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12 | 526333 | 0.375 |
23 | 640909 | 0.370 |
8 | 603052 | 0.365 |
7 | 187966 | 0.360 |
Price($) | Vol. | No. |
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0.390 | 289330 | 16 |
0.395 | 798690 | 12 |
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0.405 | 878082 | 14 |
0.410 | 2111944 | 34 |
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