Aud gold is back above $2400 awaiting fomc minutes. Is that a bull flag? Someone with better TA please let us know.
In any case, the divergence between the commodity and Regis is stark. We have blood in the streets. I may have to sell something to buy more.
In my view, I don't want a buy back, I want a mine built in western nsw, I want a debt bullet to be repaid and I want dry powder for acquisitions, to monetize exploration results and some optionality to pay down the hedgebook faster. Buy backs and dividends are lazy. Dividends in particular attract weak hands. That's what's happened to the shareholder base this past decade. You want a sustainably higher share price then the company needs more reserves and higher revenue. Dividends and buy backs can wait till we have no better option than to return capital.
I would say however, some strong director buying on market would not be unwelcome. Beyer, you reading this? Have a chat to your mates. Show some confidence in your company. It's psych 101 and it signals to the market that you're not just passengers in a lifestyle company.
RRL Price at posting:
$1.93 Sentiment: Buy Disclosure: Held
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