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RRL Regis Resources Ltd

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  • 1.770
  • +0.035+2.02%
20min DelayNot Open Aug 23 16:00 AET
1.34BMarket Cap-7195P/E (Static)
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    Environment Minister Tanya Plibersek is forcing Regis (RRL) to write off it’s previously approved McPhillamys GOLD project in NSW….She declared (all of a sudden) that part of the site was spiritually significant to the Wiradjuri people – what a con. $Regis Resources Ltd (RRL.AU)$
    Australia is becoming a much higher risk destination for mining investment….In the past few days, 2 potential mines owned by Regis ( $Regis Resources Ltd (RRL.AU)$ ) and Silver Mines ( $Silver Mines Ltd (SVL.AU)$ ) have suffered major setbacks in the approval process.
    Regis ( $Regis Resources Ltd (RRL.AU)$ ) shares only closed 2% lower after declaring it’s McPhillamys project would be unfeasible due to Tanya’s dodgy decision….I guess the market wasn’t placing much value on the project at all. HOLD
    Check out the con….WTF?!??
    I wonder, is it all ‘confidential‘ because the grifters are conjuring up some BS Aboriginal story in order to shakedown RRL shareholders for more money?….For 12 years RRL have been working on it – then the rug pull.
    Hey Tanya, look closely ...
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    Regis ( $Regis Resources Ltd (RRL.AU)$ ) warned that it’s mining costs could surge up to 20% next FY….Whilst the company is in a strong financial position with $295 mil in cash and bullion on the balance sheet, it needs GOLD prices to rally significantly just to maintain margins. I’m downgrading from a BUY to a HOLD as it’s operation is not nearly as good as I previously thought.
    The definitive feasibility study to mine Regis ( $Regis Resources Ltd (RRL.AU)$ ) Mcphillamys GOLD deposit in NSW is due to be released any day….I’m expecting another cost blowout, but strong margins will still be available meaning it can become a very profitable mine one day. BUY
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