Agree wholeheartedly Mgm1a, and at current gold price RED's...

Agree wholeheartedly Mgm1a, and at current gold price RED's share of production at Siana based on the discounted cash flows (AT 10% - just to please you Mgm1a, Lol) plus cash in bank (excluding that raised for capex) gives a

CURRENT RED VALUE OF
31.1 cps

The insto's will be focussed on this fundamental value to get their longer term return, and will be mindful of:-

Average over first 4 years (tax-free period):

EPS = 5.6 cps!!!
P/E = 2.7
(based on current RED share price of 15 cents)

Siana is a LONG LIFE (+10 years), LOW COST gold project, that P/E is unheard of for such projects and the share price WILL MOVE UP to increase the P/E closer to its peers (around 12 for the junior end of the gold sector).