"Even after Friday's smashing RRL still has a market cap of $1.139 billion."
You got this figure dead wrong. I have not checked your other figures.
However, I agree that there is considerable uncertainty about valuation here, which is why I only bought a small parcel on Friday.
Ore grade uncertainty continue to be a concern. Also gold recovery is a bit lower than planned, but this may be fixed in the future. These issues in combination with lowered gold output make the costs per ounce produced go up a fair bit. That to me is a big issue.
Poster hefty is probably right that the valuation is somewhere a bit below !.50/share for now.
I wonder if the market will still provide a premium for management skill, the NSW project, and that Australia has lower country risk and a reasonable tax regime?
loki
RRL Price at posting:
$1.71 Sentiment: Hold Disclosure: Held
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