I agree with those sentiments. I would prefer to be buying RRL today than when I did but my eye is on the long term for all my precious metals investments. I sold a few RRL shares yesterday to avoid the dreaded Margin Call text message and I expect a few other investors may have done the same so there is an element of “panic” selling in the sector at present.
I wrongly expected the dividend to be cut when McPhillamys was approved- that would have been a big plus offsetting the negative news re the dividend cut. RRL is part of a team of significantly undervalued gold stocks so the next cycle is expected to be explosive and material. For those who have some dry powder to play with I anticipate they will do very well.
I also think the talk of RRL not investing for the future is a little unfair. How much did they pay for McPillamys and what do you think that asset would cost today?
RRL Price at posting:
$3.05 Sentiment: Buy Disclosure: Held
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