Ann: Red 5 and Silver Lake Resources to Merge, page-222

Don't get me wrong Mr Pike, while I trade this stock, it is more than double of my whole total of my whole portfolio which at the moment is gold laden. Most of this is and investment stake...long term and yes, I am in love with RED having followed and owned it for so long. What's not to love!

With or without SLR/GMD/XXX I am happy to be here.

As for the hedging, when that was set up, we were a big risk and therefore needed to provide a decent reward. Without it, we could not have done the development work. We always have to leave something on the table for the next girl. Keep in mind also that the decisions were made when we didn't know if gold was going to be $2k or $1.2k. Also remember that one of the big reasons Saracen failed was due to their LACK of hedging protection. It is also one of the contributory reasons I invested in RED5.