My understanding is that each insto has signed legally binding agreements as a sub-underwriter through Petra Securities to the RED 5 issue, and must make good payment within a couple of days of the shareholder approval.ie they must pay by next Monday I would imagine. Therefore we should see the new shares being issued from RED on Wed (Tues is Australia Day).
Its just crazy the sell-down at the moment in RED. It certainly doesn't demonstrate the true potential of RED.
Even in the event of the gold price moving down to US$1,105/oz the RED share price is HALF the NPV's indicated for RED's share of production, excluding the additional cash in bank and assumes no value for Mapawa!
secret is out, page-7
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Last
39.5¢ |
Change
-0.020(4.82%) |
Mkt cap ! $2.686B | |||
| Open | High | Low | Value | Volume |
| 40.5¢ | 41.0¢ | 39.0¢ | $9.181M | 23.04M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 34 | 1243803 | 39.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.0¢ | 139143 | 5 |
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| Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
| RED (ASX) Chart |