Ann: Exploration Manager Receives Discovery Reward, page-6

Well, after thinking this over some more - I find it very encouraging. The offer of 10 million shares is contingent on publishing a rsource estimate. If it's to keep Matt Svensson on board it would be totally pointless unless Svensson himself thinks there is a resource to prove up and publish. He is the Geologist. He is the guy who knows best what they have found so far, and what they are likely to end up with. If he thought Redback was not going to be a resource, the offer would have no effect on him at all - no reward and no incentive. It would be without value.

The offer only has value to the recipient - Svensson - if he thinks that Redback really will be a resource they can publish.

So yeah - I find it very positive indeed.

It's still possible they will need more drilling, beyond the current round. The last announcement said they hoped that this current drill program would prove up a maiden resource, but if they do need more drilling - that may actually be a good sign. It may indicate that the deposit is still open in one or more directions and more drilling is needed to find the total size.

The worst outcome would be an unexpected poor result from the latest drilling - minimal grades and short strike lengths, or nothing at all. That would probably knock Redback out as a possible resource - and the "reward" made to Matt S. Would have zero value and give zero incentive.

So I really think this is effectively a Christmas bonus for their Geologist, in anticipation of a very Happy New Year when they finalise their results and declare a resource at Redback.

Ho Ho Ho indeed.......

I hope so!!!!

Merry Christmas to all holders..... (And any readers at all!)

Dave