Interesting day - most golds down - GMD down 7.19% (shorters...

Interesting day - most golds down - GMD down 7.19% (shorters picnic? ) CMM down 2.12%, SLR unchanged at 88.5c (near year lows) PNR down a further 2.56% (to a 10yr low !! ) NST down 1.11% (was A$14.35 6 month ago now A$10.73 - ouch ) NCM down 2.09% GOR up 0.3% (but hasn't done much for the last 3yrs) WGX down 0.28% but almost double since Dec'22 .....

BUT RED5 up a further 1.82% to a 12 month new high ..... WTF is going on ?
Is this a slow moving rerate or is there further action a foot ??
For RED optimists digging up MW quotes like "he expected RED to eventually have a similar MC to GOR" .... after debt repaid and hedging closed and presuming a good gold price and KOTH continues to exceed guidelines ..... so bearing in mind analysts SP targets are 31-34c without a TO .... BUT if a TO emerges by GOK, a TO premium gives 40c+ if a bidding war breaks out ??