hopefull4ever - I've also got NST in the frame as a company who...

hopefull4ever - I've also got NST in the frame as a company who may be interested in RED for reasons I've outlined on HotCopper previously.

I note that in addition to their Thunderbox operation close to RED, NST also have Bronzewing nearby and a bit further north ("a bit further" is a relative term for distance in WA) they've also got Jundee.

While Bronzewing is currently on a C&M basis, the current gold price must make firing it up again a consideration. This'd require a bit of time but a few less dollars than they'd be required to spend to buy RED. Still, the acquisition of RED would provide them with 200,000+ pa ounces of gold production from "Day One".

If another player makes a bid for RED, I'm comfortable that a company the size of NST could easily blow them out of the water with a counter bid if buying RED would suit NST's longer term ambitions in the Leonora precinct.