RMS -8.72%: another gold miner that has been forced to downgrade near the end of the period as conditions become increasingly more difficult. They’ve blamed the poor weather, COVID & influenza as well as lower grade when putting through a small downgrade to production guidance for the full year today, from 260-260koz down to 255-260koz. For the most part, these issues aren’t company-specific and they will pass with time. Gold miners will also need a commodity tailwind to get investors interested again. One positive was that RMS didn’t push costs higher, though they are expected to land at the top end of the previously guided $1,475-1,525/oz range.
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