BUY - Red 5 Limited (RED)
*** GENERAL AVICE ONLY***
Trade Date: 18/12/2023
Description: RED 5 Limited is an Australia-based gold producer with established mines located in the Eastern Goldfields of Western Australia. The Company owns and operates the King of the Hills (KOTH) Gold Project
Recommendation
Buy Red 5 Limited (RED)
Entry price: 32.5c
Target Price: 40.5c (+24.6%)
Stop Loss: 28.5c (-12.5%, use -10% trailing stop)
Rationale:
RED has been in a steady uptrend since July 2023. Every small pullback during this time has been met with good buying. Today RED has pulled back while Spot Gold strengthens, so its another opportunity to buy RED where the downside risk is easy to manage. Fundamentally company has continued with strong Gold production and steady debt repayments.
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.