All goldie producers are up today due to a higher gold price that is getting close to breaking up above USD1800.
I think we pretty much all agree that RRL paid too much for the asset, and there has been heavy share dilution,
Yesterday's announcement that they are replacing their ounces of gold produced via exploration and acquisition was helpful, but I was not too excited about the inclusion of low grade stockpiles in the mineral reserve. Lets hope there are a lot more ounces to be found in WA near the mills.
Whether shareholders like it or not, RRL is getting the 30% interest in Tropicana along with some debt.
I doubled my RRL holding today on hopium that the AUD POG does not tank and gets going in the second half of 2021 - this is just a medium term trade. I have not been a shareholder of RRL for some years. I doubt we will see the share price back near its previous highs, given the share dilution, without the McP project being in production or a very high gold price (which I am not expecting).
loki
RRL Price at posting:
$2.84 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)