Hi Patron, just be careful with the hedging average provided by...

Hi Patron, just be careful with the hedging average provided by the company.
The reality is that the lender to RED really put the screws on them (plus RED management were veeerrrryyy sub par with their timing of hedging).
The more recent hedging is at much higher prices, which is nice enough, but.... not really relevant in the near term.




The hedging quota is approx 20k per quarter, which is not great, as it means the margins are slim on the first 20k, then... even ounce afterwards is generating close to $1000 AUD. The hedge delivery implies it will continue for approx 9 quarters, so March 2025.
Later on, some of the hedging will increase, but at much higher prices.

This from the quarterly.



RED is still not in a strong position capital wise. I really do wonder why another mid tier does not make a genuine merger offer to RED.
I am fairly confident the insto's on the register would be welcoming. REDs shareprice is very volatile. It is a traders play thing, until.... it can actually prove itself to be something akin to say CMM.