It says the following in the announcement released today: "Revenue receipts are forecast in the range between A$20M and A$30M. " There was strong buying around the 1.225 price. I truly beleive that this stock will have adequate support around the 1.20. Cash is extremely tight and if they have another bad we season they will need to undertake another CR. However, they cannot do this until the appropriate resolution is passed at the AGM. This may be problematic as the previous capital raising was conducted at $2.10. I hope the MD provides more information in regards to what is occuring at the mine today.
RED Price at posting:
$1.25 Sentiment: LT Buy Disclosure: Not Held
