Well, it looks like one of the main determinants for gold miners, the POG, remains relatively positive. So far the pullback has been technically reassuring, with the retracement oscillating around the 23.6% .... a breech of the 50% retracement level (US$2200) would be a different matter.
Note: the A$POG has retraced more, because of the relative strengthening of the A$ vs US$.
The "drill results" should not be surprising - this mega ore body is expected to reveal many more .... hence the confidence in a very long LOM.
The loose talk about renegotiation of the merger by both RED & SLR fanboys in favour of better more "equitable deal" is fatuous - both BOD's have agreed after many months of negotiations to the deal, and although theoretically SLR SH's can abort, RED can't unless a better offer magically appears.
This seems highly unlikely at this point as not one credible whisper about GMD has surfaced - GMD is the only alternate deal that makes sense.
The UBS switch to SLR from RED ensures that the YES vote will succeed, and UBS will become a new RED SH's after merger complete.
So, settle back and hope the market remains intact, along with the POG, so Big RED can emerge in calm seas, as .... REDLake ? REDGiant ? REDhead?
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Last
34.0¢ |
Change
0.020(6.25%) |
Mkt cap ! $2.312B |
Open | High | Low | Value | Volume |
32.0¢ | 34.0¢ | 32.0¢ | $18.95M | 56.93M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 8000 | 33.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
34.0¢ | 1015223 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 8000 | 0.335 |
16 | 2793525 | 0.330 |
17 | 1183035 | 0.325 |
37 | 2285583 | 0.320 |
15 | 714977 | 0.315 |
Price($) | Vol. | No. |
---|---|---|
0.340 | 1015223 | 12 |
0.345 | 991829 | 9 |
0.350 | 306612 | 10 |
0.355 | 542679 | 13 |
0.360 | 1014506 | 17 |
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