updated valuation still low 30s. new notes, page-9

MGM- Just take the positives away with it. As long as you made a profit and you still have some skin in the game, you are doing ok.

Im not concerned with rebels. Red has been there since the mid 90s and have a great working relationship with the locals and govt. They have always provided assistant for the locals thru working on site or providing health and education to the local village.

Management have looked after the area and knows the importance of that. Conservative board and management have always had the interest of locals and the enviroment at the forefront of mining there. At least 10 year mine will provide a good relationship with the locals and give them employment.

Ive always been overweight in RED, but use it to my advantage. With so many big boys on the register, we can ride the highs and rebuy on the lows, and let the hedge funds and investment arms take all the risk.

Smart to look after the mortgage first and trade with whats left over. You will always have opportunities to gain a larger stake again with a long term mine if you decide .