Hi Spec, I'm gonna do a few videos on the weekend with RRL among them. The chart is fairly bland though. Trading in that tight range between 1.20 and 1.30 for a while now. I feel like a break one way or another is due soon though. As a general rule the longer and tighter a range is, the more decisive the breakout will be. The way it's been knocking along the bottom with no volume isn't very conclusive either way. If the volume starts to pick up will be the indicator that the break is coming.
I've had a look through the numbers in the last production report and generally agree with your thoughts though. The lack of capex this yeat really makes a big difference when converting those ounces into cash. The June quarter A$ gold price will prob be $30-50 lower than March though.
My concerns for the company relate to the lack of long term growth options. It's a trading stock for me at the moment and I think at these prices it offers good risk v reward.
RRL Price at posting:
$1.22 Sentiment: Buy Disclosure: Held
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