Always qualified my comments by saying that the POG was the final determinant - nothing has changed.
With so little "buying of the dips" relatively small volume will test near support. So, if one is a technical trader, then your "stops" may well be hit, and your selling will occur into a falling market, accelerating the fall. Many a stop will be hit by intraday lows, only to find the closing price is higher.
I have a fundamentals based view on RED, and believe that once fully commissioned, better prices will eventuate.
BUT if gold goes into a very nasty, protracted bear market, even the best gold miners become marginal, and RED SP may be anchored hereabouts.
As I said in my recent comments, the next quarterly report and the one(s) following will be VIP for RED to demonstrate successful, profitable, full commissioning. Till then, I'm holding.
If RED is in trouble, with its proven long life geology and modern plant, whats does that say about higher ASIC operations and wannabe greenfield deposits in Australia and overseas ??
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