Timber 7The hedge was a free cap and collar for only 40,000...

Timber 7

The hedge was a free cap and collar for only 40,000 ounces that came with the loan. There is no way in hell that this free hedge is of sufficient value to extinguish the 25 million dollar debt facility

I'm very interested in which nearby processing facilities have free capacy to process REDs ore, and how much RED would actually gain from this, TOLL arrangements usually benefit the processor.

I figure keep mining waste to build the expanded 2.5 month ROM pad, commence geotec work and plannining for the new tailings dam and continue insurance discussions (which may take years to resolve assuming RED had these circumstances covered) - At least this way RED has a salable asset which is being designed for reliable continuous production.