completion of first tranche of placement, page-2

IMO this is a VERY important announcement - besides the fact that RED now has another $15.19 million in the kitty (along with its current $21 odd million in the bank) it means that the insto's are on the hook, with the pricing quite favourable in view of the current share trading activity (no thanks to you bot!).

And it means that we should see considerable motivation by the insto's concerned to support the price at least at the current level to ensure that the future equity funding under the Financing arrangement is achieved - and I would presume it is a condition precedent to the debt component. That suggests to me that we have just achieved a new and vital stage in RED getting its development of Siana underway!