I hate to say it, but red is not driven too much by gold price at the moment. They really have to build credibility back up. The second capital raising took the market by surprise and they should have seen it coming but decided not to announce to the market earlier.
They waited till the last minute (a few days before the half yearly). So until they reestablish credibility, it will not respond like it should to gold price movement. Also doesnt help when approx 50% of production is hedged.
Ann: Record monthly gold production at King of the Hills, page-33
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