Ann: Update - Bullseye Takeover (Bidders Statement), page-10

Oh ye of little faith - SBM: MC $2,246m ($260m cash) / 350k oz predicted for FY'18 .... MC x26 RED
- SAR: MC $1,549m ($101m cash) / 315k oz predicted for FY'18 ..... MC x18 RED
- SLR: MC $230m ($88m cash) / 150k oz predicted for FY'18 ...... MC x3 RED.
RED on track to produce 95k oz. FY'18
Petra's Feb RED valuation target 13c / share .... assuming 5 year LOM and Siana / exploration value $20m (!).
SLR by the above metrics is undervalued, and RBC has increased their 12-month target to 80c (apparently).

OK Gazza, I concede that this may be an apples & oranges comparison and that RED gots some work to do before it becomes the next SBM, but unless it encounters a major problem, it's very likely that even if its market cap increases x3, it would still be relatively cheap ?
If RED doesn't go forward then it will go backwards - treading water is not an option - hence its relentless aggressive exploration must continue - I'm sure that's RED's MD & BOD understand & are committed to such a strategy. May the gold fairies unerringly guide RED's drill bit.

PS ... remarkable how the bots sold down the SP from the opening high of 7.4c to 6.9c (where I picked up another parcel) .... if a RED comes across something big, the surge in the SP should not surprise, as the free float is not that much till the SAR & Gold Fields shares come out escrow. There's only one thing I enjoy more than a big squeeze, and that's a 'short squeeze'.