Not really, Rabs.
A sideways gold price at the moment is a very good thing. It ascertains margins for the beginning of full production reducing instability and reinstating confidence. This also makes sure that the perceived margins of the feasibility report are shattered.
With this underlying environment on the product they produce (that being Gold, and RED5 Limited), a decent production report, upgrade, or any spot of good news equalling higher profits will indeed see the price break away from this current range.
If the price does break 1800 it would be great for profits, but boast uncertainty, as one of the main reasons for golds up is market instability. This time around, Gold is not going to be viewed as a safe haven, as we already saw during the rocky months pass.
In short - the status quo is good enough for me to see RED's share price break and hold in the future.
This is my opinion and I don't expect anyone to follow my reasoning. Just throwing it out there :)
Not really, Rabs.A sideways gold price at the moment is a very...
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Last
37.5¢ |
Change
0.005(1.35%) |
Mkt cap ! $2.567B | |||
| Open | High | Low | Value | Volume |
| 37.0¢ | 37.8¢ | 37.0¢ | $1.799M | 4.815M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 68 | 2092453 | 37.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.5¢ | 1512218 | 51 |
View Market Depth
| Last trade - 12.49pm 05/07/2024 (20 minute delay) ? |
| RED (ASX) Chart |