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RMGGF - Resolute Mining: A Struggling Junior Gold Miner
Resolute Mining Ltd.
Thesis
Resolute Mining's (RMGGF) recently withdrawn FY 2020 production and cost guidance (following a 10-day strike notice from mineworkers' union at the company's Malian operations) has hit the share price hard. Considering the current prices, one may assume that the stock is technically attractive; but I disagree. In my view, RMGGF's business performance is tainted by a plethora of issues relating to its operations, financials, as well as overall business management.
This article will highlight the key red flags in RMGGF's balance sheet and income statement. Broadly, these issues relate to the company's