I would suggest this is a "descending triangle" chart formation,...

I would suggest this is a "descending triangle" chart formation, and these trend to break up, in a bull market.
QE to infinity, + zero / negative interest rates and relentless asset inflation, will continue to support the POG for the foreseeable future, IMHO. The current low liquidity seems to imply that "strong hands" are accumulating, as they believe that near term announcements like the debt finance, will drive a rerate and a significant SP surge. Few producer gold stocks have as much upside in analysts SP targets. Some possible M&A partners like RMS, have declined markedly from supporting analyst's SP targets, which is good news for RED in the event of a win-win merger. Bruce and Col continued pessimism is quizzical in light of RED's recent milestones and presentations. If developing WA's next large mine in the next 12months, + Darlot's reinvigoration + Siana's resurrection doesn't satisfy, what will ?
With so much of RED's potential value not in the current SP, RED remains a strong buy .... IMHO.