"Very disappointing" ? Have you forgotten RED still has the "shackles of debt and hedging" previously discussed at length ?
Until the debt is paid down sufficiently to convert the residue into a "credit facility" and perhaps reduce some of the hedging, then for the time being RED is fully valued IMHO. Obviously M&A would change the equation, and RED is pushing its "regional consolidation appeal" to the max.
But when and from where M&A will emerge remains speculative.
But in the meantime, I'm pleased that RED SP is just holding 33c. The apparent divergence between the A$ POG and the US$ POG is merely due to a minor currency downgrade of the US$, because of the growing concern about its debt, which the interest now payable annually is greater than the IOUSA defence budget. But the IOUSA can and will print US$ and treasuries as required, till "de-dollarisation" is much more advanced - perhaps a decade or more from now. A USA secretary of the treasury once famously remarked after Nixon "closed the gold window" that the US$ was America's prime asset and everybody else's problem ... nothing has changed much.
As long as the A$POG remains in the high profit zone, gold stocks, especially producers will be well bid - but the the worm turns, the market will take profits, despite the predictable howls from gold bugs.
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Last
42.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.857B |
Open | High | Low | Value | Volume |
43.5¢ | 43.5¢ | 42.0¢ | $10.98M | 25.76M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 422803 | 42.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
42.5¢ | 1424887 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 231820 | 0.420 |
20 | 1102395 | 0.415 |
22 | 640687 | 0.410 |
17 | 451600 | 0.405 |
32 | 478653 | 0.400 |
Price($) | Vol. | No. |
---|---|---|
0.425 | 297049 | 3 |
0.430 | 976808 | 15 |
0.435 | 1545112 | 27 |
0.440 | 1918687 | 37 |
0.445 | 1102517 | 13 |
Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
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