RMGGF - Resolute Mining: Cheap For A Reason
- Resolute Mining is one of the worst performing gold stocks year-to-date, and one of the only gold stocks stuck beneath its 200-day moving average.
- The company had a solid H1 performance operationally, but this was overshadowed by a 17% dilution to shareholders near multi-year lows for the share price.
- The most recent news is that Resolute has received a strike notice from the Union, with plans to observe a 10-day strike at the company's flagship Syama Gold Mine.
- I continue to see the stock as an Avoid in favor of better managed peers, due to Resolute's inferior operating jurisdictions, industry-lagging margins, and unfavorable share dilution.
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Resolute Mining: Cheap For A Reason