Ann: Quarterly activities report , page-64

cashme, fair comment, but you are referring to the fact that RED acted very poorly in **communicating** the negative news in mid-Sept. There was negative news, which crashed the share price on 18-19 Sept.

The negative news in mid-Sept was that RED was not yet at full production because the silt still wasn't sufficiently removed. Most of us believed RED was at full production by late August. My point was that RED's share price bounced back quickly even though RED **still* had production problems and that mgt **again** didn't communicate that situation. time will tell whether the current situation is worse, keeping the share price subdued, or not.

We do agree about RED's poor communication of the Sept negative news. Specifically:
1. Share prices fell mostly before any reported information, indicating that some shareholders knew about the negative news.
2. When asked by ASX on 20 Sept, RED's secretary said "The Company is not aware of any information concerning it that has not been announced". But the response did mention that there is still silt to remove, even though it did not view this as new info.
3. On 21 Sept, Edwards said in a Company Insight interview that 80% of the silt was removed and that "by the end of September we should be back into full production". Given that shareholders thought RED was already in full production, this info should have been announced to the market earlier.

In my view, RED will produce and shareholders will benefit eventually (maybe fairly soon), but the journey has been more painful than most of us care to repeat.