Ann: Investor Presentation - Diggers and Dealers, page-108

@Surfer42

What makes you think the big holders aren't being communicated to? The share price isn't languishing when the gold price isn't for no reason.

The fact that RED cashed in their shares last week at a substantial discount (despite Len Eldridge claiming at last weeks presentation RED was not here to dilute shareholder capital) tells you all need to know about the intention of the board.

They are looking to acquire something else. My money is on GMD. I suspect Gwalia/Tower Hill is what they want to get their hands on. Tower Hill is a bulk open pit 25km south of KOTH with a reserve grade 2g/t of a million ounces. KOTH is currently processing open pit ore at 0.7g/t. The idea of replacing some of that 0.7g/t ore with 2g/t ore would be quite tantalising. Unlike the SLR/RED tie up that had few synergies the new RED/GMD tie up will offer genuine operating synergies.

The risk of course is that the RED board dilute shareholder value in acquiring GMD and secondly they sell off Deflector or Mt Monger for less than they are worth. It's just a matter of time if you ask me. The sooner the better so that the price suppression can be lifted.

GLTA/IMHO