red back mining, page-2

I tell you what. Redback looks a decent company with relatively low cost, increasing gold production.

I've looked at the company's web site today which is at http://www.redbackmining.com/s/Home.asp

I have already given some price valuations for PRU based upon current gold prices and PRU's $7 billion worth of gold resources.

With a pre feasibility showing substantial gold production at a token cost with rich margins PRU should be in the dollars right now in my view.

Each PRU share is currently backed by $35 worth of in ground gold resources. That's right. $35 a share based on 200 million shares and in ground gold resources worth about $7 billion.

There is no way I will be swapping my interest in PRU shares and my interest in that growing in ground gold resource for a low ball bid that values PRU at a few hundred million dollars if that is what Redback or anyone else is thinking.

I trust that PRU's major shareholders will have brains, but one never knows.

I am invested in PRU so as to share in the irrational share price explosion that will happen as gold goes through US$2,000.

When you might even start to see PRU valued at 50% or more of its in ground gold resources!!!