This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

VAU - Vault Minerals

Jump to new
Trading halt pending another probably disastrous announcement
what a rat..
Maybe I am too pessimistic but my 3 year experience with this stock is not positive
I do not hold anymore....
 
qldfrog said:
Trading halt pending another probably disastrous announcement
Click to expand...

From the report...

Milling operations were suspended, as a precaution on 24 April 2013
following early detection of subsidence on a minor portion of the external
wall of the tailings dam. Representatives of the design engineers were
immediately mobilised to site.
Regrettably, over the last 96 hours, further subsidence has been logged
and the movement has not yet stabilised. Investigations have not yet
established the cause.
For clarity, there has been no tailings dam spill and no environmental
damage. Neither is there any immediate impact on mining activities.
 
Cap raising at 35c! Last trade at 62c mid april...

Seems like a mighty high price considering most other gold miners have halved from april till now anyway!

The fact that its not underwritten makes it really worrying.
 
skyQuake said:
Cap raising at 35c! Last trade at 62c mid april...

Seems like a mighty high price considering most other gold miners have halved from april till now anyway!

The fact that its not underwritten makes it really worrying.
Click to expand...

It's a touch enviornment to be raising, let alone the circumstances faced by RED. It'd be a tough ask at that price... There will probably be a mass exodus from existing holders as soon as it starts trading (which is after the cap raising), and there's not a fat chance in the world that they will trade above 35c raising price.

However, if shareholders don't put up, chances are RED will go under. So it's a choice between 100% loss on the current shareholding, or may be 50% loss on the capital raising BUT get something back from the current holding.

Pretty crap situation all round...
 
I followed that company for a while and saw it all: screw up after screw up, incompetent management (well probably not for their own pocket), release and absence of , delays, and I gave up after trading these shares over the last three years..
I lost money overall but also a good lesson on how to deal (or more exactly not to deal with juniors)
just checked: I traded them 20 times last FY and ultimately did a small loss by a few hundred dollars but what a lesson.
Probably will resurface renamed as a bio, namo particle company next year :-(
 
jancha said:
Yeah It looks a bit like your heart rate. lol
Click to expand...

Well it looks like this one has lost it's heart beat along with all the posters on here.

What ever happened to the old timer Beatle who was in the top 20?

Notice the previous M.D is now the share holders friend on another forum. LOL, how times change
 
You have to admit they picked a good time come back on line.
It's the only sector providing entertainment at the moment and today was a doosy!
 
RED relisted on Friday after being suspended from trading for more than six months and copped an absolute flogging. Still getting punished today by those looking to get out after such a long suspension.

Down to 9.7c as I write this.
 
And there you go.
My spruiking of a stop loss at $1.35 ish
was met with disdain.

Hanging off every word of the director is a sound trading method--NOT.
Clearly those who are blind to the obvious bias ---cant see!
 
What a ghastly performance for this gold stock as everything went wrong from a temporarily withdrawn mining licence to having to divert a river. Managed to get heavy loans in position and now back producing gold again. Needs a clever eye to see where the company is heading for now but just maybe the mining gods are back on its side again.
 
http:www.red5limited.com
Interesting now to see if the purchase of two gold enterprises helps Red5 back from its downfall.

ASX-listed gold producer with a new focus on Western Australia’s Eastern Goldfields
  • Proposed acquisition of Darlot Gold Mine and King of the Hills Gold Project will give Red 5 a commanding 25,700ha footprint in the highly-endowed Leonora-Leinster gold district, one of Australia’s most active gold provinces, a Mineral Resource inventory totalling 626,000oz, immediate production and cash-flow, and outstanding exploration and growth potential.
    • Siana Gold Project in the Philippines currently on care-and-maintenance pending an improvement in operating conditions in the Philippines.
    • Siana Project retains significant inherent value, including a substantial gold inventory, a modern 1.1Mtpa treatment facility, an open pit mine and a part-developed underground mine
 
Darlot and King of the Hills are probably only the start of the new moves by the once mid-cap gold miner Red5. Still needs a lift in the gold price to near US$1800 an oz to see any speedy recovery. That could happen if gold backed crypto-currency becomes a great hit.
 
RED are still surprisingly low in price with the Darlot Gold mine having immediate production and cash flow. Once all three mines are producing confidence should return sharply.
 
Small setback yesterday for RED after a solid eight month recovery. Here's a summary of their financial results for the Half Year ended 31 December 2017:

• Sales revenue of A$37.5m
• Net cash flow from operating activities of A$8.2m
• A$21.8m in cash and in metal accounts
• Darlot gold production of 17,777oz and gold sales of 16,150oz since acquisition in October 2017
• Darlot all-in sustaining costs (AISC) of A$1,291 per ounce
• Net loss of the consolidated entity before income tax was A$1.6m, inclusive of a net profit before income tax from Darlot operations of A$2.8m

 
More good news for Red5 and once again the share price drifts backwards.
https://stocknessmonster.com/announcements/red.asx-6A885391/

This chart link shows how the share price was once $2.25 so much disaster must have occurred, oh yes. In the Phillipines a containing wall started collapsing and they had to divert a river. The mine was suspended and cash ran out. Loans were obtained and a placing - did not help that much.
https://stocknessmonster.com/charts/red.asx/

The present market cap is asking a bit around $85 million. RED may just not quite be getting there at the moment. Chi-x at 6.7c and ASX at 6.9c.
 
You must log in or register to reply here.
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...