Agreed, but I don't think the mill is much of an issue .... not the first, and wont be the last mill to have a breakdown. But in the meantime the plan continues on track, and they are building impressive ROM reserves .... "22K ton @ 3.8g/t" ...... Many a slip between cup and mouth, but RED's team has shown energy, resilience and I suspect, a hunger for vindication.
The MD will be in Sydney in the last week in March doing a corporate roadshow to try and get more institutional support for what they believe is a very underappreciated story.
I will be interested too get more detail, and find out if the major shareholders can offer more help to ensure their investment comes up Trumps (an unlikely success for being crazy brave ??).
An insider comment about Siana was that patience will be rewarded, and a conservative value is $100m!
RED5 is regarded as a good Phillipino corporate citizen, and the MD is there regularly to ensure proper care&maintence of this very valuable asset and endeavouring to advance the regulatory process.
The risk/benefit still appears very enticing at current SP.
A retrace in the SP will be an opportunity for punters like me to top-up.
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34.5¢ |
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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29 | 2067422 | 0.335 |
34 | 1294691 | 0.330 |
17 | 1247917 | 0.325 |
17 | 764621 | 0.320 |
Price($) | Vol. | No. |
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0.350 | 605979 | 8 |
0.355 | 1010691 | 12 |
0.360 | 1077566 | 17 |
0.365 | 537691 | 10 |
0.370 | 97765 | 7 |
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