RED 0.00% 34.5¢ red 5 limited

They've always known that they would be running auxiliary power...

  1. 12,484 Posts.
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    They've always known that they would be running auxiliary power during "brown-outs", as does everyone else in the area who has flicked a light switch. Nothing new there. The problem goes back to water, yet again, as they've underestimated the pumping capacity required, hence are short on power, particularly when pumping needs to be pretty much continuous. Yet again a water-sourced problem to be fixed re-actively rather than dealt with pro-actively at the expense of time.

    The "wetter" season has arrived, so it will be interesting to see if they have learnt from previous inundations and preventively developed infrastructure to be sufficiently protected. Although the end of la nina could mean that this Christmas is drier than the deluges seen in past years. Hopefully so.

    On the plus side, there is some chat about the place among those who do chat, tipping Red5 as a buy, on the basis that most hurdles are overcome. For my money, I'd like to see either the existing or new mining contractor fully operational before committing here again.

    GLTA
 
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