RED has largely completed its FY24 drilling program at Darlot. The results of the infill and extension drilling had reaffirmed the FY25 mine plan and highlight the likelihood of further mine life extensions. We have already factored in a four-year mine life for Darlot, which assumes further exploration success and resource conversion. The Scheme meeting to approve the merger with Silver Lake Resources (SLR AU, BUY, A$1.70 price target) is scheduled for Friday 31 May. If approved the merger would become effective on 7 June 2024. We reiterate our BUY rating and A$0.52 price target on RED.
To access the full report please log in under the Client Area at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.
