red5 - good first result from siana, page-2

Yes Angus -but seriously Edwards is still touting Boyongan as a 15 million oz resource -when the Philex Gold web site publicly reports their JV partner Anglo as reporting to them that Boyongan looks a dud-at least as an Anglo large mine proposition. The oxide resource is not economic as it stands and the high grade sulphide resource is too erratic. Now, noone is more disappointed than I -and at last count Anglo had 5 rigs drilling the western portion so the jury will be out for some time -but selective reference to Boyongan without disclosing more facts may hurt Red in due course. And I don't agree with how they came up with their present resource figures anyway --------.

Don't want to be a wet blanket but Red have a hell of a lot of work to do - just look at the Philex share price -last time I looked a month or so ago down from about $2.50 to about 55c. And they have numbers like 365 metres of 3-4 g/t of gold plus high copper grades.