RED Phoenix, page-92

RED is dead till successful commissioning announced.
Also, M&A seems to be necessary to really potentiate KOTH value.
"Consolidation" through M&A for Leonora district has many possible players and actors.
SBM has got a new MD, but he's likely to find it equally hard to make a silk purse out of a sows rear. The more I look at SBM's "assets" the less attractive they become, especially as a package. Gwalia, while "only 35km from KOTH" is actually much much further in energy and cost of production - Gwalia deeps are so deep, it takes and hour to get from bottom to top .... I suspect that not only will RED not take on SBM, but nor will Genesis (GMD). GMD are in the process of M&A with DCN, but will still have a lot of high grade ore looking for a milling solution. This ore is well within economic trucking distance to KOTH ..... RED + GMD would have over 4m oz of reserves and would become a A$2bn MC when their combined potential is recognised by the market. Raleigh becomes MD, and Mark becomes chairman and Saracen Mark 2 is created.