tailings dam, page-4

The recent tailings dam issue is serious IMO.

I got into this company cause they been up against some major setbacks that were mostly out of their control, but they worked to correct them and succeeded. Some of things they have done are at the very top of the game. But this tailings problem is a recent man-made issue.

I have serious problems with recent reporting by RED on:
1) the supposed 'improved' production
2) the dewatering/water management hype (IMO the figures and methodology is wrong)
3) The supposed gold recovery improvements from the processing plant
4) The March quarterly indicates they are spending much more and achieving much less.
5) timing of asx reports in the last few months (IMO they may have held back on information a little longer than they should have)

My summary analysis, having looked at all the information publically available over the past few years, is that the institutional investors have written RED off (the instos have the resources to analyse them better than the average punter). The sp over the past 3-4 months reflects that.

Just my opinion and I’m willing to elaborate based on my research.