Poor GMD SH's - being a plaything of market manipulators, with all the morals of a cat playing with a mouse. This is not a pleasant experience, and one that the victim is powerless to do anything about - at best one ends up with a severe mating, at worse, one becomes lunch. As GMD has no news (that I can see) whats going to counter this attack ? A TO offer for RED would seem unlikely, and usually sends the would be acquirer lower and the target higher - so thats not going to help .... especially when RED seems to thinks that "some would be bidders have overvalued paper ".
As for SLR, the acquisition of a "strategic holding" in RED has done nothing for its SP to the consternation and puzzlement of its loyal SH. Amazingly, SLR's MC of A$841m is below RED's A$917m today - what does this say about the markets view of SLR's prospects?
RED SH should look around and not get too carried away with theoretical values, but wait for real news and volume confirmation of RED's price. The cognitive dissonance of high gold prices and falling or floundering gold company SP's may mean market heavyweights expect further general market turmoil and theres more downside, that will not spare mate darlings ??
