I only have a very small investment in RED, as I have been waiting until RED can prove they are able to operate a mine profitably, before I invest more. Without a capital raising of some type RED would most likely go into liquidation and then there would be a ‘fire sale’ and shareholders would get nothing. If RED did a capital raising at 35c, to ‘institutional and sophisticated investors’ only, most current shareholders would be complaining. I think the ‘rights issue’ is a fair way to raise capital and I will be taking up my entitlements and I will probably be applying for more. If the capital raising is a success it looks like it will be at least another 12 months before we find out if RED can operate profitably.
RED is a very risky investment but so are most of the 'small cap' miners and explorers.
Good luck, we will need more than our fair share.
ann out rights issue to recommence prod , page-53
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Last
42.0¢ |
Change
0.010(2.44%) |
Mkt cap ! $2.857B | |||
| Open | High | Low | Value | Volume |
| 42.5¢ | 43.0¢ | 40.5¢ | $55.01M | 131.2M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 136340 | 41.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.0¢ | 2109264 | 10 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| RED (ASX) Chart |