What does MM think of RVR & GEM?

Hi Rob,

Two very different businesses here hence I’ve split the answers accordingly:

1. Red River Resources (RVR) 7.6c: this base and precious metal company has seen its stock fall by over 70% from its 2022 high and unfortunately at this stage this $40mn business is too speculative to us.
2. G8 Education (GEM) 91c: this $770mn child care business has been trading around current levels for 2-years but its finally threatening to show some tangible signs of improving as it moves in H2. The company guided to a strong 2H22 driven by better occupancy meeting higher prices, partially offset by the continuing headwind of wage inflation. The business enjoys a a strong balance sheet hence they continue to buy back shares on market. MM owns the stock in our Active Income Portfolio, however, we ware awaiting some more information at their AGM to determine what our next course of action will be here.