I am a bit bemused by the market response upwards. I was hoping...

I am a bit bemused by the market response upwards. I was hoping for a lower AISC than what has been declared but the production upside is OK, even if small. I actually thought like SLange that the market would price RED downwards but not so.
Exploration expenditure has devoured most of production earnings but has produced good outcome at KOTH and so OK.
Valuation has about doubled over the quarter but still good value on fundamentals and once expected increase in resources is confirmed it will remain low priced. (Current EV to Production = $1164/oz.)