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    Joshua Rails

    Senior Analyst at RFI Associates

    Joshua Rails is a Senior Analyst at RFI Associates, specializing in coverage of fintech firms and emerging technology companies including Square, PayPal, Affirm, and Adyen. Known for his rigorous earnings forecasts and actionable buy-sell recommendations, Rails has consistently ranked in the top quartile among analysts tracked by TipRanks, maintaining a success rate above 65% and delivering average returns exceeding 12% annually over the past three years. He began his finance career at Raymond James before joining RFI Associates in 2020, where he quickly advanced due to his analytical acumen and sector expertise. Rails holds FINRA Series 7 and Series 63 licenses and is widely recognized for accuracy in market-moving calls within the payments and neobank space.

    Joshua Rails's questions to GOLD leadership

    Joshua Rails's questions to GOLD leadership • Q4 2024

    Question

    Asked if management sees costs continuing to stabilize, which would lead to margin expansion and potentially attract generalist investors back to the stock, given the company's large, low-cost reserve base.

    Answer

    Management agreed with the premise, stating that costs are being managed and they are forecasting a decline in sustaining capital needs. They believe their focus on 'bulletproof' assets, shareholder returns without dilution, and a strong balance sheet will eventually attract long-term capital back to the stock as the value proposition becomes undeniable, especially in a high-risk global environment.

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