It is a bit doom and gloom at the moment, but as Aqua65 confirmed, you have this correct. I am not going to say it can't go down more, but I would imagine the downside is limited in lieu of some major negative event (wider market correction, an unplanned plant shut down, major injury etc).
The company seems like it is doing the right thing, and whilst the board could (and should) be buying on market, I think the future looks pretty good.
I have quite a few shares that are a deep shade of red, but I think a couple of consecutive good quarters with standard production and minimal investment should remedy that. I am also looking to buy more in the next few days.
Of course, if we think the company is cheap, there is a chance that other companies think the company cheap, and we can't rule out an opportunistic take over.
RRL Price at posting:
$1.91 Sentiment: None Disclosure: Held
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