The Oz POG is UP ~A$120 over the past couple of weeks.
RRL is still pumping out record Gold production and all its resources are looking expansive.
You have to laugh.
The Hedge Book sits like a haemorrhoid for shareholders but it has reduced by 30% over the past year ... a time when the RRL share price was double that of today. I feel the Tropicana deal was validated by the Pretium sale.
We're all looking for value. RRL looks way undervalued compared to most other OzGoldies AND in a Sector that is way undervalued, relative to other equities/asset prices AND producing a commodity that hasn't enjoyed the same price movement as others, given the debasement of fiat currencies. Friggin in the riggin of POG?
The POG hit the US$1,870s on inflation worries but has fallen (supposedly) due to the re-election of Powell at the US Federal Reserve but moreso due to the strategic emergency oil reserve release.
Inflation is running hot (although they want to believe its supply chain issues). China and USA GDP down. Rising oil prices exacerbating inflation ... and now emergency oil reserve releases from India, USA and China are suppressing the POO. OPEC will not be pleased. What might the future hold there?
OPEC bigwigs Russia and Saudi Arabia signed a military co-operation agreement a few months ago. Will the POO hit US$150 again soon? More? Will it be measured in US$?
The strategic emergency oil reserve release is a temporary fix. If anything, it highlights the current world energy crisis. It will return ... and due to the bad blood fostered, will make it worse.
The POG is bubbling with inflation and when the POO hits the fan, it will take off.
RRL Price at posting:
$1.95 Sentiment: Buy Disclosure: Held
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