Not the whole truth quoted in the half yearly regarding the dividend halving. Tropicana was in their sights but the negotiations were commercially sensitive and not for public disclosure.
"The interim dividend reflects the Company’s financial preparations for the development of the McPhillamys Gold Project in NSW should approval be received from the Independent Planning Commission in 2021."
and
"In light of this and given the capital expenditure that will be required for the development of McPhillamys (in the event that approval is received), the board has decided to pay an interim dividend at a rate of 4 cents per share, delivering a grossed-up yield of 1.7% for H1."
RRL Price at posting:
$2.72 Sentiment: Sell Disclosure: Held
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