Big RED - a new beginning, page-14

It seems that the breakout of the previously highlighted "descending triangle" with a decisive reversal to a new uptrend in the A$POG is gaining momentum, and the chart pattern (for those with some TA imagination is a bullish "cup & handle" formation.

Some quizzical discussion around the anomaly of Big RED's MC vs others didn't include my old favourite Capricorn (CMM). Despite advising the market that CMM is on course to produce 110-120k oz for FY'25, CMM has a market cap of A$2.048 billion vs poor old RED with a 445k oz p.a. production, almost A$500m in cash, for MC of A$2.823 billion ??
Admittedly in a 3-5yrs, CMM will have Mt.Gibson up and running, and its production might reach 50% of RED ??
..... GOK how much CR will be required.
Meanwhile RED will have run down its hedges, ramped up KOTH and made a few more acquisitions .... maybe then RED will become a CMM-like 'market darling' and its MC / production ratio will be similar to CMM ..... about x3 its current MC ??

" (CMM) Gold production for the June 2024 quarter of 26,835 ounces was in line with updated guidance and reflects the continued focus during the quarter on increasing material movement out of the Bibra open pit in order to underpin the mining schedule volumes in the medium term. This earthmoving focus will taper by the end of the September 2024 quarter and will underpin another strong year of operations at KGP in FY25 with gold production expected to be within a guidance range of 110,000 – 120,000 ounces.

Full operational, cost and guidance details will be provided in the Quarterly Report later in July 2024.

The Company’s cash and gold on hand at the end of the June 2024 quarter was $125.0 million (Mar24: $177.8m) after the payment of $69.6 million to partially close out the Company’s hedge book as announced on 14 June 2024."

PS. for those LT bashers, may I remind them, that LT assumed the MD role at SLR in 2014 when the SP was 14c, slowly built it up during lean POG years, to 30c+, launched a successful bid for Doray which eventually saw the SP blow up to 257c, and then when the SP cratered again to 81c, launched another successful (reverse takeover ... which was beneficial to both RED and SLR) to create a long life mid tier destined to be a A$3bn + MC company
... some failure ... if only every gold miner could have an MD and BOD that created such extraordinary growth through difficult times.