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
33.5¢ |
Change
0.015(4.69%) |
Mkt cap ! $2.261B | |||
| Open | High | Low | Value | Volume |
| 32.0¢ | 33.5¢ | 32.0¢ | $9.917M | 30.29M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 51 | 1871182 | 33.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 33.5¢ | 3364683 | 63 |
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| Last trade - 13.53pm 30/08/2024 (20 minute delay) ? |
| RED (ASX) Chart |