I am not sure if RED meets your mid-cap ranking or not with a MC of $399M. However, if you look at the KOTH DFS and latest announcements, you should be more comfortable:
-AISC of A$1,339/oz for the first 6 years and 176 Koz pa
-funding in place for mine and process plant development
-continuing progress with construction and infrastructure
-scheduled production in QA2 2022
-IRR of 49.8% (post tax) for a POG = $2500/oz, or 39.7% with gold price of $2250/oz
I am as likely to be critical of gold companies as anyone but RED seems to be under-valued because of the Darlot performance, whereas I prefer to look a bit further ahead. Also, Siana is an unrealised asset and given no value by the market IMO.
Even the recent activity identifying deposits around Darlot can make a change to that area (yet to be proven, I agree).
Ann: Darlot Gold Mine production update, page-72
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Last
29.0¢ |
Change
-0.010(3.33%) |
Mkt cap ! $1.972B | |||
| Open | High | Low | Value | Volume |
| 28.5¢ | 29.0¢ | 28.0¢ | $8.962M | 31.29M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 459580 | 28.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 672610 | 11 |
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| Last trade - 16.10pm 09/09/2024 (20 minute delay) ? |
| RED (ASX) Chart |