My understanding is that each insto has signed legally binding agreements as a sub-underwriter through Petra Securities to the RED 5 issue, and must make good payment within a couple of days of the shareholder approval.ie they must pay by next Monday I would imagine. Therefore we should see the new shares being issued from RED on Wed (Tues is Australia Day).
Its just crazy the sell-down at the moment in RED. It certainly doesn't demonstrate the true potential of RED.
Even in the event of the gold price moving down to US$1,105/oz the RED share price is HALF the NPV's indicated for RED's share of production, excluding the additional cash in bank and assumes no value for Mapawa!
secret is out, page-7
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Last
37.5¢ |
Change
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Mkt cap ! $2.550B | |||
| Open | High | Low | Value | Volume |
| 38.0¢ | 38.0¢ | 37.0¢ | $5.719M | 15.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 199992 | 37.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.0¢ | 418122 | 5 |
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| VAU (ASX) Chart |