Price target 40 cents, page-4

Canaccord's latest RED short term target has been reduced by 20% to 40c ?? Only double todays SP ?? .... see another respected analysts latest valuation below. Canaccord have confirmed BGL as their #1 pick and have a new $1.45 valuation = more than $1bn MC. Meanwhile BGL continues to "dewater" and "drill" ..... but no plant, no FFS, + ridiculous speculation that the BGL ore could be trucked to Darlot .... all that is too come sometime in the future of the perpetual gold bull market .... while poor old RED has gone from the next great thing to yesterdays hero, according to the many HC sages, who inform us, that RED has always been a pretender ... a "has been that never was" ... au contraire !
"Red 5 Limited (RED) - Near-term issues don’t detract from the bigger prize"
"RED has provided a disappointing update to the market, with a weak JunQ production outcome and FY21 guidance below our expectations. Issues with the Darlot processing plant and lower grades have persisted and impacted JunQ output which is now guided to be 21koz, below previously downgraded guidance of 26-30koz . Whilst mechanical issues with the mill have been resolved, grade has continued to underperform and a revised operating strategy will be implemented in FY21; KOTH underground will be wound down, Darlot will be asked to do more and a small satellite operation will be developed at Great Western. Whilst we see this as a higher-risk plan in the near term, the fundamentals of the larger, standalone project at King of the Hills (KOTH) are unaffected and there are minimal changes to our valuation which is 8% lower at A$0.51/sh. Despite the obvious damage to credibility, RED retain a highly valuable and uniquely positioned asset base with 250-300kozpa production potential; with a fully-funded EV of just A$460m, the execution risk has been sufficiently discounted. BUY."