Chart follows the story here. Price sitting flat all quarter, while the quality home-based gold plays have been running well. This morning was a perfect example of "if you are going to panic, panic first."
Pit wall failures - yikes! And no specific guidance on remediation. Not sure if it is cheap here at $1.40 or not. I am thinking so. Given that they are predicting improvements to reach the lower end of the production target, then maybe it is fair to assume they believe they can get on top of the problems in the pits over the dry season - and hopefully have them permanently cut back and stable before the next wet. Just might want to dodge the quarterly where the problems show up not just as missed production, as advised, but with a cost blow-out.
Disclosure - sold to sit out some of the fall. Got back in too early with revenge on the mind - emo trading at its worst.
RRL Price at posting:
$1.39 Sentiment: None Disclosure: Held
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