After commercial production began at its Siana gold mine in the Philippines in April 2012, extreme wet weather forced the company to spend four months removing silt, it then suffered plant equipment failure, had issues with its mining contractor, lost its managing director and finally, has ongoing issues with a consistent power supply.
Afterwards a series of events, mishaps, organisations and bad luck followed including a mine wall collapse in its Siana Project which made the gold production targets challenging but somehow they seem to have made ground eventually but the ordeal has made holders exhausted.
WA Business News
Local gold miner Red 5 says an earthquake registering 6.1 off the coast of Surigao del Norte was a possible contributing factor to the collapse of a wall into the open pit of its Siana project in the Philippines last week.
http://www.miningbusiness.net/searc...red5&field_commodities=All&field_location=All
Company communications are slow coming through but some results may be rewarding when they do and there is cash in the bank with gold sales continuing. I can't add to what is already reported on this thread nor do I intend to try. Can only say that I came across this company whilst searching for a Thomson Reuters rating update on another micro share yesterday when I saw Red's rating was 1 point higher and graded as neutral. I also found it was rated by one of their analysts as a Buy. After reviewing chart I found it went into a downtrend to 4s around August 2015 then and an uptrend to 8.2c then as usually happens, a pull-back to around 5c earlier this month.
The chart shows it could be the beginning of a break again for accumulation as there has been a change of sentiment, beginning of an upturn and momentum just changing, but you may need confirmation of this with your own research in time. One to look at anyway if you're not familiar with the company.
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Last
44.5¢ |
Change
-0.005(1.11%) |
Mkt cap ! $3.003B |
Open | High | Low | Value | Volume |
44.5¢ | 45.0¢ | 43.0¢ | $10.42M | 23.50M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 923494 | 44.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
45.0¢ | 695828 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 667283 | 0.440 |
8 | 1064823 | 0.435 |
20 | 436247 | 0.430 |
15 | 575994 | 0.425 |
9 | 388278 | 0.420 |
Price($) | Vol. | No. |
---|---|---|
0.450 | 179020 | 2 |
0.455 | 605961 | 9 |
0.460 | 485528 | 5 |
0.465 | 340227 | 4 |
0.470 | 882329 | 9 |
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