These dogs can hardly complain about being kicked to the curb....

These dogs can hardly complain about being kicked to the curb. RED will not be seeking such partners merely for the sake of a larger market cap, no matter how cheap they appear to be - That would be a definite step backwards.
Rather RED will seek a marriage of equals, or RED will look to acquire orphan ore sources in need of a processing solution.
Hasten slowly, for this is a very unforgiving market.
SLR can't see any bargains out there (why else would they be conducting a share buy back).
RMS troubles seem to make it an unsuitable M&A partner ,so patience and very careful due diligence is called for by RED's BOD.
RED's MD, in his upbeat Diggers&Dealers presentation, was bullish about RED's organic growth potential, long mine life & upscale potential of KOTH.
Demonstrating this by aggressive mine plan development and exploration, along with maximal expansion of KOTH capacity will draw interest of others for M&A with RED, as a cornerstone tier one asset. The BOD and management require time and breathing space, they've earned that.
Correction for previous comment - RED's profitability depends on the difference between the A$POG and A$AISC and this could A$800/oz, at present.
(not an ASIC of A$800 - that would be truly remarkable and see RED rerate big time)
Any major correction of these basic parameters will require a recalibration. RED remains a strong buy IMHO.