Maybe...given the B2Gold acquisition of CGA Mining, also Phillipines based, for over CAD$1bn today, you could expect some hopeful buying of RED. However, it's more likely question marks over management and the actual asset which are holding more interest at bay.
Industry dynamics seem to be changing too and the B2Gold move seems a little strange, given the message from the Denver gold conference last week. Over the last 5 years, the gold price has risen by 140% but gold stocks in general are up just 20%. Investors are getting teed off with being diluted to fund expansion and this is a problem which needs to be addressed.
why 10 cent drop?, page-4
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Last
42.5¢ |
Change
0.005(1.19%) |
Mkt cap ! $2.891B | |||
| Open | High | Low | Value | Volume |
| 43.5¢ | 43.5¢ | 41.5¢ | $11.42M | 26.92M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 222136 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 1437793 | 11 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| RED (ASX) Chart |