Exploration to Accelerate after Wet Season - R3D Resources Limited (ASX:R3D) - Listcorp.
Any one invested in R3D should re read this document from March which preempted the current drilling news and forecasts eg:queen grade , OK mine ,Bulimba , Beefwood. R3D did a great bit of business here paying for the drilling with 50% cash and the rest with 50% in shares at 20c or the VWAP which ever is cheaper this is at a 50% discount atm on current VWAP or at least it was ! In addition the grades at all 3 are monstrous - Beefwood 272g PMT by previous owner and 282g PMT by R3D -queen grade as high as 16% zinc with an average of 10% through out giving a possible JoRc total of 290k MT or greater contained zinc at currently $4452.32 AUD PMT . Sales from this total could value $1,288,278,600 AUD !!!And being processed by Mungana where 42% Zinc concentrates have consistently been achieved!! -OK mines Cu grades are as high as 20% from surface to 45m and consistently around 4%-7% from 45m-60m making it a massive find . All these targets require further drilling to prove the resources completely and in the case of queen grade expand it while they mine it and process at Mungana !! Did I say R3D was huge ?? Way under valued !! And I think the market is starting to agree . AIMHO GLTAH DYOR See you at 20c ! Cheers TT
R3D Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
