Absolutely. I own both. RED is vastly undervalued and the combined entity would have amazing production profile ca 500kozpa and long mine life.
Say RED were acquired at 50% premium, the propforma EV would be ~$3billion, could easily rerate to +$4 billion... that'd be well over $2 per share.
Ann: September 2023 Quarterly Activities Report, page-32
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$2.27 |
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Mkt cap ! $2.606B | |||
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