Van Eck is listed as having 11% voting rights. Meaning they own a shitton of stock. Therefore I believe a major reason for the declining shareprice is the outflows from gdx. This will cause gdx to have to adjust its NAV and assests and therefore sell some of its stake in RRL. This indiscriminate selling due to gdx outflows has caused a major distortion in the market and is not taking into account the fundamentals of the individual companies. This could be a major opportunity. However for now our fate is tied to gdx and if gdx goes down I believe so will we. Therefore gold was up last night but gdx was down about 0.3%. So we will possibly see a small decline today counter to the POG. Or RRL could start looking too good to bottom pickers and institutions.
RRL Price at posting:
$1.99 Sentiment: Hold Disclosure: Held
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