Whilst I have a soft spot for RSG, I do not like their hedging...

Whilst I have a soft spot for RSG, I do not like their hedging and the problems in Syama tell me that a decision to mine is still a long way off. Prudent investing is to play the strong stocks and ride them up. RSG has not been strong for 18 months! Something very suspect with this stock! Even SBM has a higher market cap! The management of this company are doing investors a great dis-service by continuing to hedge. I had one of our finance manager look at their calls and puts and whatever else and he recommended that I steer clear of them. The hedge book is heavily out of the money (big time) and growing! If you are super bullish on the price of gold, RSG is by far not the best investment because of the hedge book. Oh, yes I know they say they have only hedged 20% of their resource. But the resource will take 6 years to mine whilst their hedge covers 2 years. Another way of confusing potential investors. RSG cash cost is around $500 whilst their average price is $580. Cash costs are only going to increase whilst sale prices will remain more or less constant.

A trade to $1.45 may be on the cards but the risk is you miss out on what's left in this leg of the gold bull. Technically, a close above the apex of the symetrical triangle at $1.45ish is the buy alert for RSG.