Just looks like another gamble on the gold price by management and a desperate act to create extra ounces.
No doubt when the divvi is cut to 2 cents it will be "headlined" as a good yield as the share price takes the proverbial bath.
Has this move been prompted because of a hold up at McPhillamys?
The extra selling of the forward sales really needs to stop as its just pissing against the wind while damaging the company balance sheet.
The extra ounces will help offset the forward sale disaster.
The seeds have now been sown so now we await the harvest or the famine.
The reasons for owning gold rise every day and gold will have to be "reset" higher at some point. It is already $1000's of dollars behind where it should actually be. It ain't rocket science.
Tropicana, page-32
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Last
$2.49 |
Change
0.090(3.75%) |
Mkt cap ! $1.881B | |||
| Open | High | Low | Value | Volume |
| $2.47 | $2.51 | $2.45 | $11.01M | 4.429M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 171517 | $2.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.51 | 43782 | 5 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| RRL (ASX) Chart |