What is the market missing????? ...... I don't know - perhaps...

What is the market missing????? ...... I don't know - perhaps lack surety of profitability and BOD/management credibility. The fact that appears to be no 'takeover premium' in the SLR SP is damming!
If the next 2 quarters show continued improvement in cash and NAV, then a re-rate should follow.
Meanwhile, the repetitive surge in volume on SP weakness apparent on the monthly chart to the right suggest some entities are accumulating on the proverbial 'weakness' and seeing that this is not your classical BTFD quality stock, perhaps a surreptitious corporate raid is underway ... "tell im he's dreaming" ??
Let's hope "still waters run deep".
RED like SLR, appears seriously undervalued but has no takeover premium (as SAR and Goldfields are major shareholders, who can veto any offer that they don't approve of) and must continue to 'outperform' to maintain SP recovery. If RED achieves and holds 10c SP, despite the subsequent wave of selling by exhausted long-term holders, then who knows where the SP will head .... 15c? which would still be MC less than SLR current MC !