todays the day, page-8

Yuyu, you have hit it right on the head!

MML STILL is trading at a HUGE premium to their indicated NPV's based on reserves - they enjoy that due to:
1. Being in production now;
2. The current (and first 3 year forecast) reserves are high grade and have been mined at a low cost per oz;
3. The company has marketed itself very well.

MML is the ideal company to consider a scrip for scrip takeover, since it can take advantage of RED's substantial DISCOUNT, and the aggregation will allow the combined group to benefit from:

1. Considerably higher total reserve ozs = just under 2 Million!
2. Longer life operations (MML's high grade runs out in about 3 years), RED is a CONSIDERABLY LONGER life project;
3. Not too far from each other's operation (about 150 kms) allows synergies for rationalising equipment etc.

(I am aware that RED has already been involved in assistance with CGA Mining - located on a different island in the Philippines several hundred km's away for their ball mill repairs, as they both have same ball mill manufacturer and have similar histories).

CGA of course remains another option, but the synergies are not as strong, with MML it is a PERFECT FIT (the only thing that is missing is the personalities involved - Geoff Davis of MML used to be the Exploration Mgr at RED5 (then called Greenstone) and in fact was instrumental in bringing Siana into RED5) and I think that the personalities are not so complementary (and not so complimentary, LOL!).

[Wanelad1 - by gees you can change side so quickly, Lol, such is the life of a day trader I guess].