Agreed optimistus. The current share prices seem to either...

Agreed optimistus.
The current share prices seem to either reflect the share dilution with not enough interested buyers around as well as the fact that fallen shares are never sexy.
Or they anticipate some kind of bad news.Maybe the costs of the Tropicana-acquisition are taken into account to have some impact on p/l-figures in current FY 2020/2021. That depends on their absolute impact and it depends on which portions will fall under IFRS3 and which under IAS 32 and IAS 39.
Given the fact that any acquisition-driven costs are one-time-only and given the risen gold prices since the Tropicana-Deal and the leverage-effect from that deal I can´t imagine how the low prices can be justified in the longer run. Of course Regis depends on the future development of the gold price as well as production and exploration costs. We will have to watch those closely as well.
Still and all for me (!) Regis is a buy for now.

But of course that is for everybody to decide by themselves contemplating own analysis!