Yeah, my average is $2.41 and I am currently down about $10k
I have averaged down and taken profits multiple times, but I chose to lock in small, short term, relatively low risk profits because it feels like there are larger forces at play than just POG or the ability to dig the stuff up in a profitable manner.
I am actually bullish on RRL, but in saying this, I think the management could have done a lot more to mitigate the hedges they inherited.
McPs is frustrating, but as per the other threads, hopefully there will be some positive news in the near term. I am sure, however, that once it is announced that the SP will go down because then there is a whole new set of risk in the build and the potential for issues and cost blowouts.
Still almost 45m shares being shorted. I think it will come back down, especially if my conspiracy theory about the shorts actually being Macquarie turn out to be true...
RRL Price at posting:
$2.07 Sentiment: None Disclosure: Held
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