"Wise-Owl first recommended RED as a BUY on 20 Sept 2009, and the closing price just prior to that recommendation (18 Sept) was 11 cents (Open 10.5/Low10.5/Hi11.5). At that time their 12 month price target was 19.0 cents (so they got that right, but oh so low an estimate in my view!).
Southern Cross Equities (SCE) is interesting. It has been clearly spelt out that SCE brought clients into the latest placement (I think more from the London side), and we all got that following investment advice (Jenesequoi I think must be tied up with SCE as he knew about it before most others) with a 12 month outlook forecasting 27.0 cents. But that was some time back, and I feel as though SCE placees in the prior ($35.0 million placement made in 2007) placement have slowly lost their interest, and maybe they have also been dropping shares (bearing in mind that placement was allotted 350 million shares at that time) more recently. I think there were a few different changes to the people at SCE in the research area, which has hampered the following research (but I might be wrong on this).
I think it would be good for a few other groups to start following the story, and I guess this can only be done with the news coming out of Mapawa, and once RED wants to pursue this. I have a feeling though that Petra Securities has done a good job of keeping their clients (wholesale investors) updated, but it needs a bigger push on the retail broking front IMO to get the price moving much higher - but RED don't really have any need to do that at this time, they are more interested in getting the project activities advanced."
Beatle
RED Price at posting:
$1.65 Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)