$40 cents club, page-1767

I fail to why 50 cents isn't achievable. In fact I think the share price should be at least that now.

6.8 billion shares at 50 cents is $3.4 billion.

KOTH has 2.5 million in reserves at a margin of $1,600 based on current ASIC of $2,200.

That's $4 billion of value in reserves just at KOTH.

Add in at least another million ounces at Mt Monger, Deflector, Rothsay and Sugar Zone at $1,000 margin per ounce and you've got another $1 billion.

Plus cash of $500 million, bullion $50 million less hedging loss of $280 is another $270 million.

All up - total value of over $5 billion.

So excluding 8 million ounces of resources and 4 operating plants I see a value of 77 cents per share.

Very few mid-tiers can claim to have to have a mine plan until 2037 with 80% of the resources in the indicated category.

This means a lot of capital has already been invested in drilling. Not to mention stripping.

With gold prices where they are, long term mine plan and the strong balance sheet, it's time RED started to be recognised for the excellent value it is.

Looking forward to the upcoming resource and reserve statement - it would be good if the company shed some light on resource split at Deflector between Main lode and South-West lode, not to mention updates on Cock-eyed Bob and Sugar Zone.

GLTA/IMHO