I would like to think that the market would not react like this due to comments made by a disgruntled, vindictive, former share holder who creates stories to push his own agenda, but the market is, by nature, irrational.
I find the capital raising story a good example. Not sure what information he has, but cash looks OK to me. Has over $8 mil in bank, $4 mil to come from Au sales, over 6000 oz Au (about $10 mil) in inventory for over $22 mil available cash. There's a drought throughout the southern Phillipines which shows no sign of breaking which gives Red a great chance of meeting, at least guidance.
It may all go to crap but at the moment, in my opinion, the mining gods are smiling o Red.
Ann: Investor presentation, page-7
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Last
38.3¢ |
Change
-0.013(3.16%) |
Mkt cap ! $2.686B | |||
| Open | High | Low | Value | Volume |
| 39.0¢ | 39.8¢ | 38.3¢ | $2.041M | 5.265M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 48 | 1479990 | 38.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.5¢ | 669629 | 12 |
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| Last trade - 10.20am 26/07/2024 (20 minute delay) ? |
| RED (ASX) Chart |