Extract from SCE daily report.
RED good buying at 11.5c - one of a few explorers becoming producers.
There are not many companies at this stage of evolution - projects approved, funding received and in construction. Others are still in the exploration stage...
Red is developing the Sienna gold mine for at least 10 years at an operation cost of US$350/oz. It has cash of $60m post a $45m equity raising and is finalising a $40m loan with Deutsche AG and Ashmore group. Early stage site works have commenced, plant items ordered and EPCM tenders closed.
On the exploration front, assays are expected to be received within the next few weeks on the first of a number of deep holes into the large Mapawa gold/copper porphyry deposit near Siana. The geology looks good and if gold grades are found to be reasonable, this could be a significant discovery.
The stock price is down from a recent HIGH of .19c AND IS LOOKING VERY CHEAP AGAINST VALUATION AND OUR TARGET PRICE OF 27c.
site work have commenced
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Last
36.0¢ |
Change
-0.010(2.70%) |
Mkt cap ! $2.448B | |||
| Open | High | Low | Value | Volume |
| 37.0¢ | 37.8¢ | 36.0¢ | $9.825M | 26.88M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 1862724 | 36.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.5¢ | 2312588 | 9 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| RED (ASX) Chart |