$40 cents club, page-980

Agreed - I've been saying this for a long time and what I got for my trouble is charges of "ramping" and being a RED stooge.
"presentism" has been decried by the likes of Bill Maher to dismiss "woke" moralists, but the same surely applies to those who keep banging on about how terrible the hedges are .... they should go back and look at the commentary at the time - RED's management was never given much credibility back in 2019/20 (despite uncovering the enormous potential of the KOTH deposit, which had been overlooked by previous owners) when they were trying valiantly to get KOTH up and running with major intransigence by the banks - they got it financed just before COVID hit, and despite the incredible difficulties thrown up by COVID, got it completed at a fixed price, but not without serious setbacks ..... now RED with KOTH humming, has the gold world at its feet.

The language used around the hedges is ridiculous - it's as if the higher the gold price, the greater the loss .... the hedged ounces are not being sold at a loss, just not as much profit as the unhedged ounces - this portion is profitably goes up with the POG ... is that so hard to grasp. The hedges will naturally expire in about 26 months ... rather than buy them out, put that money to expanding KOTH to make it even more attractive as the main regional consolidation hub.

Next bit of idiotic commentary is about the SLR 11% shareholding - that's part of SLR assets that have been committed to the merger - its immaterial whether they are sold or not - the shares or the cash from the sale will remain in SLR which will become part of the merged RED's assets - SLR can't sell the shares and then have a special dividend before the merger ... so whats the fuss all about ... just more navel gazing.
Perhaps RED might agree to a block sale of the 11% SLR holding to facilitate index buyers, and to further increase the new RED's cash reserves ... the new BOD will already have an action plan. If the merger goes ahead, one can be assured the new BOD will hit the ground running - definitive commentary about the plans for enhanced KOTH output and longevity, along with commentary on the debt being converted into a bank credit facility and the future attitude to remaining hedges, will be forth coming IMHO.

Todays SP retreat was in line with the general down day on the broader market, but as I said in my previous post, the drop of in liquidity meant that 36c was a likely short term SP peak - the POG and the broader market sentiment trump every other factor - the SP can continue to fall if the broader market continues to decline ... so pray for stability, not a market rout !