I've an African developer also (WAF). So not too wrapped up with salaries...oil price is the big saving with oil diving. RRL has some crash protection baked in; but i can't see Gold going below $1200 under any circumstances. RRL misses the big runs that SAR and NST catch with low hedging, but it's a comfortable hold in a volatile market despite the panic selling. Fair price I believe around $4.80, higher in a jittery precious metals market.
BROAD basis for valuation is that even with a 15% drop in POG, RRL could comfortably maintain a 3%+ divvy at an SP of $5.
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