I dunno, good to hear the downside case. though a lot of goldies are in fact up a lot since the gold price started to rise around October. even RED is up ~25% from it’s post CR lows.
I think a takeover at 30-40c is the upside case but it’s nice to daydream. a lot would have to go right, production guidance achieved, gold price tailwinds, a bidding war like sbm-gmd-slr etc.
More realistically, SP in low 20’s after the June quarter. then a 40% premium gets it to ~30c. Most shareholders would be averaging less than 30c so this would probably do it.
just my thoughts.
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