1. Gold isn't going to the moon. 2. McPhillamys is still on the drawing board 3. Out of the money hedge book 4. $A inching up against $US POG 5. Diesel/Oil prices (costs) increasing again 6. Risk that McPhillamys drags on further 7. Risk that McPhillamys costs blow out 8. Risk that they cut the dividend to pay for McPhillamys
Yeah it's reasonable value but not exactly hot. I sold 60% above $5 but my remaining 40% is now just in the red. What I have left is in my "trade column.
They need a better story on future production.
RRL Price at posting:
$3.48 Sentiment: Hold Disclosure: Held
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