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Ann: Red 5 launches capital raising, page-21

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MRRC

618 Posts.

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21/02/23

21:27

Post #: 66381721
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Originally posted by Mastatrada: ↑

Very frustrating to have a CR now when everything should be on track, but RED are certainly not the only new producer who is struggling. Callidus are in the same boat, with blow-outs on their AISC due to inflation, operating issues due to a massive lack of skilled mining personnel in WA, and the curse of hedged gold at a lower price than the market, denting profitability for the first couple of years of production.
While there's no doubt management could have done things better, the prevailing economic conditions are the main cause IMO. Gold should be a lot higher, and will be later this year according to the outlook of many people smarter than me, as well as the actions of many hedge funds and central banks in buying up gold assets. The fire sale prices soon to be available on what I consider to be Australia's best new gold mine, KOTH, will be painful to current investors but also an amazing buying opportunity for a year hold IMO

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Prior to the market opening and seeing the trading halt popping up I got excited thinking we might be in for a M&A until I read yet another CR raise again all within a few months. Very disappointing news.
How can the CFO get it so wrong. He/She should be sacked with immediate affect.

RED Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
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