Ann: King of the Hills Final Feasibility Study progress update, page-17

If you want M&A action then maybe you should buy those goldies instead. RED is in a different phase in its life-cycle than those companies. We are currently in the feasibility phase of the Lassonde Curve. Acquiring assets at this point when KOTH is not in production is high risk. Even riskier that gold has moved into all time high territory in AUD, which makes assets very expensive to acquire. Best thing for RED at the moment is deliver KOTH and build a war chest.

KOTH to RED, is Jundee to NST, Cowal to EVN and Carosue Dam to SAR. You have got to get your cornerstone asset squared and running like a well oiled machine before you can add more assets to it. Getting ahead of yourself has far worse implications, you don't have to search far, as history is littered with goldies that got ahead of themselves and ended up in the scrapheap. KOTH, Jundee, Cowal etc was once owned by companies that got ahead of themselves and had to divest to repair balance sheet