You got me Peri, I was being lazy. But I do like to hear what...

You got me Peri, I was being lazy. But I do like to hear what other people think if it is based on sound rationale.

So, what is RED worth? I’m no expert but there are a few things in our favour. (And it’s been good for me to go back and review my investment thinking.)I bought in very early 2021 because of the size, the quality of intercept grades and the potential for a takeover to push the price up. I participated in the scaled-back raise earlier this year for the same reasons.

As it stands today at a local level, we have:
one of Australia’s top 10 largest reserves – at a time when major new gold discoveries are to find worldwide
good prospects for mine life extension based on latest results.
seemingly overcome the teething problems that beset many mines during start up
seen the talk of Red 5 as a takeover prospect materialise.

At a macro level, I’m actually somewhat conservative and think that the long-running government excesses, plus over-inflated company valuations, will end in tears. Whether it is a sudden drop in markets or a slow grind down, gold will benefit.

Speculation will drive the price for now but the potential for the gold price to boost our sp looks highly possible.

I don’t have a target/exit price. The “story is intact”, as they say, so I continue to hold and expect to see a X2.5 - X5 multiple of my 17 cents entry price.

(On your mention of LRS, I have added in over time. Our PEA should give an insight into the costs ahead but they are expected to be relatively low because of the location and nature of the resource. I expect capital will be raised by selling off our halloysite interest in Australia and – we’re told – there has been strong interest from potential offtake partners who could help bankroll the project to secure future supply.)