it suffered more because its re-rate was so high the previous...

it suffered more because its re-rate was so high the previous year. that meant at an index level it moved from being a $175k small cap to a billion+cap - so VE would have needed to up its reweighting progressively + buy it in both funds not just the junior fund

basically a function of it being the highest cost largest ounce producer when gold shifted from negative to positive direction - was being priced for insolvency to then being the best profit increase per dollar rise in USD gold

if they can convince the offshore market that $1150 aisc aud is sustainable soem of that vicious 2 way edge should leave the stock

a lot of investors and analysts offshore who dont track aussie gold stocks closely would still think its a 1280 aud aisc company

by way of example i spoke with the gold analyst for one of the canadian brokers in sydney last year about Endeavour mining - which had delisted here the year before

Anyway he was basically saying it was a non performer - yet when I talked him through the numbers i could hear the glazing on his eyes crackle and pop.

Professionals - often even more than retail investors - have a bad habit of forming superior judgements abotu stocks and not tracking changes in underlying business drivers unless they follow a space very closely
RSG is particularly affected by this because its listed on the ASX - yet ASX gold investors almost all prefer Aussie operation gold stocks because of the assumed currency cushion

Thats why WAF stocks on ASX tend to have very distinct 'waves' of rises and falls - basically when aussie goldies have run then money moves into the less preferred but more attractive valuation WAF stocks