Even lower now unfortunately gosouth. I cannot believe this company is still worth over $1.1B market cap. Such a large premium has always been placed on RRL due to 'superior' management and project blah blah..
RRL market cap approx $1.1 Billion. Cash and bullion on hand as at end of last quarter was just $13m !!!! down from $92m previous quarter. And that was BEFORE the operational issues due to flooding etc.
Cash balance must be paper thin now, so in the long held tradition of many miners, RRL should be now ready to face reality for a capital raising when SP is at 3 year lows.
I posted at the time when the company went into a trading halt regarding the flooding, that RRL should take the opportunity to raise cash to shore up the balance sheet.
Good luck.
Points from the Quarterly:
Drawing down of working capital facility. Gold hedging under water at current spot gold price. Garden Well gold production lower for three consecutive quarters. Garden Well cash costs increased for three consecutive quarters. Garden Well head grade down for three consecutive quarters.
RRL Price at posting:
$2.20 Sentiment: None Disclosure: Not Held
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