re: Ann: Red October Commences Drilling at Ye... Go Reds,I did...

re: Ann: Red October Commences Drilling at Ye... Go Reds,

I did considering making a purchase of ROS prior to the trading halt and suspension. However I made the decision to leave this one alone (so before someone says I am downramping to try and buy in lower this is not the case).

That said I am interested in seeing how it all unfolds because I have a genuine interest in the speccy resource sector.

I have made my opinions clear in my previous posts. I do believe there is potential for an increase in the SP but this all hinges on the JORC estimate and the value to be derived from the Silver project. IMO this will have to be substantial in order to offset the effects of the CR which could dilute existing shareholders considerably (again IMO).

That said I remain equally cautious in regard to the SP as the CR may negate any gains (at least in the short term).

Finally in regard to this announcement and getting the JORC estimates to the market by 30 June. I believe the company would have been better served to be more conservative with their timeframe. Nobody likes to see a company miss deadlines. However 7 days is 7 days, so maybe they have already started work and can pull it off.