RSG is the third gold stock to enter the ASX200 in December, a characteristic that feels a bit like the lithium stampede in 2022/3. This $2.8bn WA miner is more mature version than the previous two looked at this morning, only expected to grow revenue +20% by FY27 , hence making its far more of a play on the underlying gold price.
- We are now cautious towards RSG due to our view on gold after its exponential rally towards $US4700/oz.
MM is neutral towards RSG ~$1.32
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