Reed Resources (RDR) - gold producer Dec 2012

Discussion in 'Stocks & Derivatives' started by Ilikemetals, Nov 11, 2012.

  1. Ilikemetals

    Ilikemetals Member

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    Hey thought i might give these guys a mention. They're a gold explorer soon to be gold producer. They are setting up as we speak and everything seems to be in place for mining in December.

    They seem to have a poor track record as a gold explorer and consequently there are a lot of bitter posters on hot copper. It has never been a gold miner though before and they've got Luke Tonkin on board instead of the reeds as CEO to try steer this ship in the right direction. They seem pretty serious about getting this to work. Just have a look at all their recent reports and the photos on their FB page. There have also been heaps of jobs advertised on seek.com etc looking for a range of people to work on this project. If they figure it out, there is HUGE potential here imo. A few risks, but if they do it right then i expect a significant rerating of what may be an absolute steal at 0.18c.


    They are currently doing a SPP in time for the plan to mine in Dec and im personally on board. They have $100m of equipment already in place at 90% refurbishement. Some guy on hc says he was talking to some guy who works at reed at a pub who reckons they have heaps of gold and the SP is going to $4. Could be BS but who knows... It's interesting because JP Morgan became a substantial holder late October. They're in for the punt.

    Anyways, check it out. Tell me what you think.

    Cheers
     

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