I think it's more the guidance downgrade Stuey - higher costs, lower production. The bulls - like me - will say this is temporary, not structural, however Regis have been in a bad news cycle of late, and this won't do anything towards turning the frowns upside down. For many people, they will give them a couple of chances to come good, but with every extra piece of bad news more punters will sell out and move on. They just want to be in something that's rising, not falling. That leaves just the true believers it seems, like me. I know that Regis are a quality outfit, however they've had a sting of bad luck and delays with the McPhillamys approvals, so the market's scratching for things to get excited about with RRL and not finding much. They looked cheap last year, and they've just got cheaper and cheaper. I'm still on board however. Not adding any more, but not selling either.

Side note: I note that many of the companies that were being sold down the other day when gold stocks and iron ore miners were rising are now among the best performers, and many of those gold and mining stocks are in the red - like they've swapped places.

Swings and roundabouts. Or is it snakes and ladders?