Check RED value based on an "explorer" status: Mkt cap $161M less cash $63m less value of plant purchased $1m EV=$97m Jorc 848koz EV/oz $114 =Fair but absolutely not expensive by any means.
Now the explorer tag shouldn't be used as RED is a nascent PRODUCER, so checking NPV is becoming more relevant. Using POG $1100OZ, POS $15oz, discount rate 10% AUD/USD $0.9 NPV= 35c. [Since last time RED now has near 100% of Siana]
Permits done, 31 instos on board, fully funded, EPWC award,experienced mgmt, 1st gold pour Mar/Apr 2011.
