I really struggle to understand why... RED is looking at...

I really struggle to understand why... RED is looking at corporate deals, when.... unless I am understanding this asset incorrectly, its it going to be better than anything else they acquire, ,merge with etc.

My thoughts exactly Spec. It beggars belief they would be considering a takeover or merger now, with our share price at a yearly low and blue sky ahead.

At 17c RED is a steal IMHO.

Yes, and I am sure it will be stolen. Call me cynical, but I see the price action and management's behaviour over the last three months as a planned sell-out orchestrated by management and their insto mates. Now, I do understand why company managers sell out shareholders. Management love listed companies when risk is high and there are plenty of gullible shareholders to finance the company's high risk adventures. But when the company finds its legs and risk recedes, shareholders become a burden, as does the need to adhere to ASX listing rules like "working in the interest of shareholders at all times". This requirement becomes a huge burden, and it is understandable that management then prefer selling out to a larger entity or even an unlisted entity where they have no responsibility to troublesome pleb shareholders, and the company can easily obtain funding from their insto mates, who are happy to provide funds because the company is de-risked (like RED now is).

Three months ago, RED SP was over 30 cents. Management knew of production problems due to covid and staff shortages even then, yet they chose to do nothing regarding a cap raise. The SP mysteriously falls to 20 cents (probably due to vultures working the price down), and despite a skerric of rationality, management hold a massive raise at 16 cents that ensues many shareholders are diluted and that intsos get a helpful leg-up with a cheap entry to base a takeover from. It's even more irrational that management would now be entertaining a takeover, considering the company has nothing but blue sky and a rising share price ahead of it. No, to me at least, this is not irrationality. This is management and their "mates' orchestrating a move to a private entity or much larger listed company.

My guess is we'll be offered the usual 30% to 50% of VWAP of our current very low base of 17 cents. Perhaps 25 cents, virtually ensuring most shareholders make a loss, despite all the risk we've taken over the last 5 to 10 years. And management, some of whom will be given well-paid positions in the new entity, will promote the takeover as a "win" for shareholders because, well, we get a "massive" 30 to 50% "premium", and, you know, there is still so much uncertainty out there regarding covid, the mill, inflation and salary, and the usual BS reasons they use to justify transfers of wealth from shareholders to instos.

Yes, I admit I'm a cynic, but it has come from a lot of cynical experiences like the above scenario. I did not invest in RED, and take on the substantial risks, to only break even or make a loss. I invested long term, and expect to be adequately rewarded for taking on that considerable risk. The potential for we shareholders to be adequately rewarded is now near-certain, so it's up to management to fulfil their legal and ethical responsibilities, i.e., "working in the interest of shareholders", by NOT selling out shareholders who have helped make the company what it is today.

<rant over>