RRL undervalued?? How wrong we all are. We were happy when we didn't buy from SPP and bought cheaper from the market. Now we are whole $1 lower and confused where this thing is heading.
In my opinion company board is not completely honest with life of mines and why they rushed to buy Tropicana. Also they cut the dividend then sp tanks and they congratulate themselves saying highest % div paying gold miner. Then sp goes down more and cycle repeat.
Who are they fooling? Most of the gold produced by Tropicana going towards hedge book that is whole $900million not producing any returns for next 2years and sp diluted. Some think 500,000oz producer is mirage. They may produce this for couple of years and unless McPhillamy’s come on line or they find more reserves it is not sustainable. I have been wrong so far with this company. Hope we are all wiser next time.
IMO & GLTH
RRL Price at posting:
$1.73 Sentiment: Buy Disclosure: Held
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