Holdon, so nice of you to admit how wrong you have been in your...

Holdon, so nice of you to admit how wrong you have been in your views subsequent to the wall slip. Very unfortunate for those shareholders that followed negative recommendations (from anyone) and sold their shares after the slip. I might have stopped posting, but didn't stop buying which has turned out quite nicely.

Things are going very well at RED and I tend to think they will soon get even better. Hats off to management for doing what they said they would.

On the resource, there isn't any necessity of connection between the old resource and the new. They are different point in time estimates.

The new underground resource is factually a much higher confidence estimate that the previous resource. It is indicated and will be most likely be mostly converted to reserves in the near term.

To me the really big news is the expectation that underground development will start in the December half 2016. This implies production might begin in first half 2017...

If we get underground tonnes in early 2017, that year will be huge.

I also maintain that just like the open pit reserve, the underground will also outperform on grade.

Time will tell but I'm a very relaxed and comfortable significant Red 5 holder. Have a look at my previous valuation and posts - I still think this applies - serious upside from here in my opinion.