Pretty ugly looking RRL share price action in recent times. It could be due to one of a few things -
. bad news that has led insiders to sell;
. expectations of a falling gold price;
. fundies generally selling gold miners due to investors wanting their money out of this sector;
. the McP project likely to be rejected, but I do not think the current share price reflects much if any value for this project.
. the relatively short mine life of the Duketon operations, and concerns about ore reserve replacement.
Being a bit of a gambler without any inside info, I have bought a few more shares at $2.18 to average down to $2.46 on a hopium rebound later this year/early next year.
My main concern is the level of reserves at Duketon. If we get a prolonged gold price downturn - say 2-3 years without a replenishment of these reserves then the share price will get punished even more. Tropicana also has a shortish mine life, but I think that will be increased.
Its best to keep a lot of cash on hand in case of a prolonged downturn, because the miners can get a lot cheaper.
GLA
loki
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Last
$1.78 |
Change
0.015(0.85%) |
Mkt cap ! $1.340B |
Open | High | Low | Value | Volume |
$1.77 | $1.79 | $1.76 | $6.713M | 3.789M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 49622 | $1.77 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.78 | 42062 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4458 | 1.755 |
4 | 11472 | 1.750 |
1 | 4743 | 1.745 |
1 | 4458 | 1.740 |
1 | 4743 | 1.735 |
Price($) | Vol. | No. |
---|---|---|
1.780 | 2000 | 1 |
1.785 | 4458 | 1 |
1.790 | 15458 | 4 |
1.795 | 39528 | 4 |
1.800 | 43743 | 3 |
Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
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