Ann: Drilling program commences at King of the Hills, page-7

IF this is a multimillion oz deposit, then the deposit is similar to other successful miners prime assets (which has similar grades) and would be very economical to bulk mine i.e. open pit. Size, ease of mining, proximity to (established) infrastructure are key determinants as to wether the bulk grade is economical.

It's a BIG IF till follow up drilling 'bulks up' the the finding, but rest assured, this is very tantalising, and a potential company maker.

Let's hope that the market wakes up before a low ball bidder swoops on RED - the over hang of the major shareholders makes RED very vulnerable.

The current depth of the KOTH mine is shallow compared to many similar mega deposit mines, and hence conceptually, what is being revealed now by the latest 'unconventional' drilling campaign is the tip of a bloody giant gold iceberg. 

RED remains cash flow positive, financially secure and is self funding its exploration, development & production.

It's brimming with potential, and the management have transformed the risk/reward profile of RED's portfolio of assets. The current market cap is a ridiculous underestimate of RED's proper valuation - RED is very very cheap. This is an elephant pregnancy - long gestation but guaranteed big result.