Thoughts on RED 5 Ltd(RED) please
H , please advise your thoughts on RED now the merger has been completed, many thanks Alan
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Answer
Hi Alan,
As subscribers know MM is bullish towards gold stocks over the coming months hence RED catches the eye after its almost 30% correction following its merger with Silver Lake Resource’s and the overall pullback in the precious metals sector, e.g. Northern Star (NST) -19% and Regis Resources -27%.
A month ago after we discussed the merger of RED and SLR and we remain bullish targeting the 55-60c area with the recent strong bounce from the 35c level illustrating the markets agreeing with our bullish view i.e. no change at this stage
