Ann: Intention to make Takeover Bid for Bullseye Mining Limited, page-19

The announcement of new regulations permitting 'responsible' open cut mining would be very welcoming for long-suffering RED shareholders. Before cyclone Gina struck, RED's SP peaked at 15c, and the then Hartley analyst had a 'conservative' 29c/share valuation. So what would the upper range of analyst's valuation be if Siana was back on track, and the Darlot enterprise continued to kick goals ??
Dare I say, the SP would be many multiples of the current SP, and RED would be the most 'undervalued gold stock on the ASX' ?? 2 fully operational gold plants churning out 200k+ oz's per year should see a MC of $500m+ ?? ..... and then they could put in a bid for SLR which is now trading 10% below NTA !
Time for another 'top-up' ..... also, don't be surprised if the 'takeover' offer is accepted, and this triggers more regional consolidation ..... stranded orphan assets that can be converted into shares that are likely to go gangbusters .... now that's whats known as an offer one can't refuse.