I think it's a bit simplistic to attempt to value a company on 4...

I think it's a bit simplistic to attempt to value a company on 4 points. Particularly a company that has recently gone from explorer to producer.

Personally I don't see any value in this method of "analysis", if anyone is seeking to justify their investment based on RED's score I would suggest you take a good hard look at why you put your money into RED in the first place.

The whole market has been smashed of late. That combined with managements poor communication, and recent capital raising (which doesn't look so bad now as far as I'm concerned) had already seen the SP heading south. Kinda compounds the situation.

I think it's a bit early to be analysing the bad signs associated with an increasing dividend yield. The fact is the situation has changed since the ann. was made in regards to a potential dividend, there has been none announced and I see little value in this idle speculation. Not directed at anyone in particular, this whole thread has become rubbish.

All comes down to maths and managements ability to deliver on their promises. Whilst this doesn't necessarily bode well, they have a fair margin to screw up to make this a complete dud.

The fact is, if we haven't been sold a bunch of porky pies in regards to what's in the ground and what they can pull out of the ground, then the SP will not stay at these levels. Regardless of dividends being paid or not.

As I said before, this isn't intended to be attacking, or offensive. If it seems that way I apologise. I'm just trying to give a bit of perspective.

Cheers,

JB