daytrades dec 1 afternoon, page-109

RED > up 2c 12% .Gold mine Phillipines. JP Morgan 5%+ notice today. Fully funded now after last wk AGM approving placements, ( taking total placements to $94m in last 12 months.) Gold prepay approved $US25M

Quick valn:

Mkt cap $236m (at 18.5C)
less value of mine assets , cash $146m
equals IGV value of gold & silver$79M (Au 849Koz @4.6g/t plus Ag 1.4Moz @9g/t)

Under construction, 1st pour May2010

I am updating NPV calcs whihc I will post to RED thread, last time in high 30c's, should still be low 30's