A casual glance at RED's yearly chart shows a classic " volume...

A casual glance at RED's yearly chart shows a classic " volume climax " pattern - this often (though not always) creates a "turning point" for a retrace to test near support, which for RED would be 22c, where another "turning point' can see rebound to test near resistance, which for RED would be 27c then 30c. Conversely if 22c support fails, in would indicate wider market problems rather than stock specific IMHO

Smorgens once had almost 20% of RED, so they clearly have decreased their holding as has Franklin Resources.
RED has overtaken SLR in MC despite having residual debt and some unfavourable hedging and producing 20% less oz's than SLR and 30% less than RMS etc .... CMM remains "special" and its antigravity abilities are amazing IMHO.

Experienced brokers are nervous about this market, and they are getting this vibe from their institutional and HNW clients.
Clearly I believe that RED is worth more if its stays on track and advances to M&A. But that opinion is not at odds with the observation that RED currently may be fully valued ... thats nuance not double speak is it not ?
I've sold some at 26c but RED remains my number one holding - I'm prepared to be patient and "let the stock breathe" as I feel its now relatively bullet proof, but I have no idea what volatility lies ahead ... so, I sitting on a large cash buffer justin casey.