Here's how both SLR and RED will look at the end of the current qtr with spot gold between AUD3800-4000.
RED, will still have $100m in debt. Will still be selling gold at likely $1000 under spot, thus struggling to increase cash flow much above $8m
SLR will have no debt and >$400m in cash after adding another >$60m in cash flow plus stockpiles (Forget investments)
Tonkin blew it. He should have gone after SPR instead. Dump the RED shares and go after better value.
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Ann: March Quarter Sales Results, page-84
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