Hey Crab, as I understand it, there is lots of potential to increase the mine life at McPhill. It already have a long mine life. Soo... whilst its been a pain in the A$$ to get to this stage, its value as an actual asset in production, is basically greater than RRLs current market cap. BUT... it being in production is a way off! Plus, just to put things in perspective, a stock I follow (hole a tiny amount in), just paused its development of its W.A gold asset, because,... costs continue to escalate! BDC has 3m ounces... 1m in reserve, but... it basically cannot get into production right now. NSW will have less cost escalation, but.....
That being said, due to the size of the project, I still think it will get developed, versus my example above, but.. RRL needs to be looking at ways of ensuing costs cannot blow out too much.
Fair enough about the buy back, but I just worry that it would then be cancelled out by a capital raising to build the project etc.
RRL Price at posting:
$1.98 Sentiment: Hold Disclosure: Held
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