I haven't looked too closely but I suspect that 7.5% compares well with other gold producers .
3% of GP equates to close to about 9% of RMS margin so perhaps some resistance to factoring in the full amount .
But I would have to agree that they seem cheap .
They are still in recovery from that institutional sell down and the fact that EM is performing so well probably deserves more credit than the market has given so far .
I look forward to the day when that camel is history !!!
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