Ann: March Qtr Puts Red 5 On Track To Deliver Top End of Guidance, page-38

From a RED perspective the answer to your question is simple. Yesterday's announcement reveals barely any free cash flow and this despite only a tiny debt repayment in the March Qtr. RED ought to be raking it in except for you know what.

It's almost 2 years since RED poured first gold and 3.5 years since the LOM plan was released, included in the FFS. An updated LOM plan would (IMO) reveal hundreds of millions of needed investment, which RED would be unable to fund without further equity or debt.

For SLR shareholders it's less clear as the board has gone AWOL, no webinar or taking of questions from shareholders, which would be awkward to say the least. In particular, the implied collective valuation of Deflector, Mount Monger and Sugar Zone resources/reserves/processing facilities is extremely low.