Hey Crab,
Cheers for the video link. I think Tropicana is a good asset. I cannot say that RRL did not overpay though.
That being said, for new holders, RRL is now looking very reasonably priced. The overhang of all the new shares is probably weighing on the share price slightly more than other producers though.
While I am still not thrilled about their reserves position, I do feel they will be able to actually find more ounces, as they huge increase in exploration spend will bear fruit, but... it takes quite a long time to prove up a viable new resource.
The sector is hated.... or perhaps, more so... just not even looked at by 99% of investors. Yet... the powers that be, which print fiat currencies, hold gold above all other assets... nothing has changed... the markets, ha... I am not even sure they are really markets right now... true price discovery is non-existent.
McPhillam's should be a great asset, but... for a lot of reasons, RRL has really, really struggled to get the project into development. Until they actually start turning dirt, the market rightly values it at ZERO. Will that change, I certainly hope so, but.. as you point out, timelines, have come and gone, milestones... missed. I note no jobs have been lost over what must be one of the longest ever project development processes I have ever seen.
I see your sentiment is 'none'. Fair enough, its tough when good results, profits and dividends count for nothing, but... for me, whilst its dark, I try to flip my thoughts around, and think... would I rather be holding other stocks, that have none of these fundamentals? For me, its pretty simple.
I enjoy the discussion of HC, so feel free to throw some hard questions at me, I will always have a crack at them.
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