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RED5 doing exactly what you would like after breaking up out of that resistance level. Consolidating above very nicely on top of the new support. Thought it might have taken off a bit more with POG going on a larger comparative run.

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So i took the plunge into what is now my 2nd largest portfolio position with RED today

I came across RED as a comparison stock with all my reading on Gold and Mine stages of development, offtake agreements etc etc and eventually production with respects to researching my other AAU holding

RED having double the projected number of Gold ounces p.a. than Antrilles, and also just recenlty embarking on the first mine production as I understand, is a bit of a straddle position for me with respects to the mine development cycle, so I'm riding both ends of the cycle with the two holdings.

Gold demand (and Silver for that matter) looking forward is quite encouraging too.

if anyone's interested here is a 2022 Gold price forecast article I found on the World Gold Council website, I do recommend reading the full article / analyst detail report


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I had a few posts about RED at my Twitter in the past couple of months.

I don't know FA so cannot comment on this aspect. What attracts me initially is its price action. It seems to me that the structure has been manipulated with clear rhythm. The operator is quite patient, maybe he (they) is waiting for some sort of announcement.
 
I've been watching RED for a while but it's chart is a bit of a mess I can't quite get my head around. The high volatility over the past 3 years is my biggest worry. Elliott Wave says price could be on Wave 5 - which is good (if it is). EW can be problematic with miners. Price is in a falling price channel but approaching the top boundary which might turn price down as it has before. If it breaks higher then significantly higher prices would be expected. I have a current target of $0.35 but haven't bought in for aforementioned concerns. Probably not a good time to buy anything at the moment, but with the drums of war beating in Ukraine if anything is going to move up - I'd expect it to be gold. However, US down again overnight, our futures suggesting a troubling day ahead and gold flat overnight - I think I just keep sitting on my hands for now.

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Greynomad99 said:
I've been watching RED for a while but it's chart is a bit of a mess I can't quite get my head around. The high volatility over the past 3 years is my biggest worry. Elliott Wave says price could be on Wave 5 - which is good (if it is). EW can be problematic with miners. Price is in a falling price channel but approaching the top boundary which might turn price down as it has before. If it breaks higher then significantly higher prices would be expected. I have a current target of $0.35 but haven't bought in for aforementioned concerns. Probably not a good time to buy anything at the moment, but with the drums of war beating in Ukraine if anything is going to move up - I'd expect it to be gold. However, US down again overnight, our futures suggesting a troubling day ahead and gold flat overnight - I think I just keep sitting on my hands for now.

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Seven years is a long period to do TA on an spec explorer to producer isn’t it GN? Lots of movement on expectation, success, failure, surprises, uncertainty, gold price, investments, divestments. It’s never had a chance to operate on a fundamentally consistent mode.

Agree about sitting on hands right now. I think TA mostly gets thrown out the window during times of hyper fear and volatility.
 
Sean K said:
Seven years is a long period to do TA on an spec explorer to producer isn’t it GN? Lots of movement on expectation, success, failure, surprises, uncertainty, gold price, investments, divestments. It’s never had a chance to operate on a fundamentally consistent mode.

Agree about sitting on hands right now. I think TA mostly gets thrown out the window during times of hyper fear and volatility.
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And i had RED shares was it 10y ago, when its key assets were in a Philippines jihad insurrection.
While i have been in and out based on systems,RED for me is the perfect .but not alone example of shareholders milking factory, perpetual junior, perpetual capital raising,directors bonus and wonderful Releases
 
qldfrog said:
And i had RED shares was it 10y ago, when its key assets were in a Philippines jihad insurrection.
While i have been in and out based on systems,RED for me is the perfect .but not alone example of shareholders milking factory, perpetual junior, perpetual capital raising,directors bonus and wonderful Releases
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By my observatinos the price action has done what is expected during the resource JORC and then period between that and the mine development and eventual operations commencing.

It has a 6 year mine life (Open pit) at KOTH and beyond that Underground mine design, they'll be starting to sell their gold right at the perfect time as a Gold bull run continues / takes off due to geopolitical instability and troublesome international monetary policy and inflation.

Just my opinions, on RED and other mine developers with a timeframe that will see them stand up mining during appreciating gold prices, eg AAU another of my holdings
 
Sean K said:
Seven years is a long period to do TA on an spec explorer to producer isn’t it GN? Lots of movement on expectation, success, failure, surprises, uncertainty, gold price, investments, divestments. It’s never had a chance to operate on a fundamentally consistent mode.

Agree about sitting on hands right now. I think TA mostly gets thrown out the window during times of hyper fear and volatility.
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Yes, spec explorers and miners in general can be tough to predict - but not impossible as all those movements you refer to get reflected in chart movements and build up a picture (even if it is a bit muddy).
 
Greynomad99 said:
Yes, spec explorers and miners in general can be tough to predict - but not impossible as all those movements you refer to get reflected in chart movements and build up a picture (even if it is a bit muddy).
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a pretty credible chartist / TA mentioned RED in the context of approaching fully priced on NPV, they're from ThinkMarkets
 
My post here of a month ago had a target of $0.35 and I said if price broke up out of the price channel then significantly higher prices were possible. Well it has broken up out of the channel and made a target of $0.58 - $0.63. I'm no expert on Wyckoff patterns but that theory seems to suggest about $0.53 as a target. My comments about the difficulty of charting stocks like this stand but I'll be academically interested to see where price tops out, but any of these would be welcome if you were a holder (I'm not).
 
I guess everyone knows about the number of short positions held with RED ? 37.5m shares

30th June had an additional 700,000 shares short sold

not a huge % of Shares on Issue, but still 37.5M shares would take a few trading weeks to trickle back into the markets as Buys without impacting share price.

It they all go at once on the same day, that's a different story

the irony is that the AUD price of Gold is going up and not far off all time highs, so to my thinking that makes all gold producers that are actually selling in USD get more margin for their gold due to the AUD being below 70c USD

kind of interesting

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King of The Hills is now operational and has delivered it's first gold pour. This should improve the outlook for RED.
The share price has stopped falling. A rising gold price would provide additional support.

Selected for the Aug 22 comp as price looks likely to bounce higher.
 
peter2 said:
King of The Hills is now operational and has delivered it's first gold pour. This should improve the outlook for RED.
The share price has stopped falling. A rising gold price would provide additional support.

Selected for the Aug 22 comp as price looks likely to bounce higher.
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Good morning peter2
Use to trade Red a few years ago. Dropped it after hearing some barking .... :) Might have a peak in light of King of the Hills development. Thanks for that.

Kind regards
rcw1
 
peter2 said:
Continued talk about consolidation of the gold projects in the Leonora region (WA).
CMM (+DCN) + SBM + RED
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I watched GMD, SBM and REDs presentations the last two days at DD streamed and it seems a logical consolidation but not sure who should be running it. SBM have the biggest MC. Combined would be worth about $2b.
 
Selecting RED again for the Sept monthly comp. Price started to go up in Aug but it drifted down to where it started. Gold seems like it been in the doldrums forever. It's rapidly turning into an insignificant commodity in my eyes, only good as a door stopper.
 
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