todays the day, page-2

Agree wholeheartedly Mgm1a, and at current gold price RED's share of production at Siana based on the discounted cash flows (AT 10% - just to please you Mgm1a, Lol) plus cash in bank (excluding that raised for capex) gives a

CURRENT RED VALUE OF
31.1 cps

The insto's will be focussed on this fundamental value to get their longer term return, and will be mindful of:-

Average over first 4 years (tax-free period):

EPS = 5.6 cps!!!
P/E = 2.7
(based on current RED share price of 15 cents)

Siana is a LONG LIFE (+10 years), LOW COST gold project, that P/E is unheard of for such projects and the share price WILL MOVE UP to increase the P/E closer to its peers (around 12 for the junior end of the gold sector).