Very rough opinions but in general.....They overpaid for Tropicana at current gold prices (may prove value if production and gold price gains extend into future). Dropped the ball on exploration activities. Hundreds of millions in capex required for McP which also has a lot of local opposition (water issues). Hundreds of millions lost in potential revenue due to hedging policy. People forget about the in the money call they sold as expiration has rolled off. If an investor wanted a dividend from a gold producer then that was available at EVN which has a far superior asset base and hedge book. I think people just went elsewhere and lost a bit of faith in Mgmt.
RRL Price at posting:
$2.55 Sentiment: Buy Disclosure: Held
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