Hi Councilgritter, as us long termers all agree on, it would be...

Hi Councilgritter, as us long termers all agree on, it would be fantastic for some real huge steps to be confirmed in ASX releases soon.

As I understand it through inquiries, the second hole has begun on Mapawa and the first hole assays are due any day now (I haven't had any update in the past week or so and I am sure any query to management on this subject which is probably price sensitive will meet with a neutral response!). Just the timing of the announcement is considered price sensitive even if price of RED is not factored into Mapawa success/failure (its valued at nil from a price value perspective IMO). From others on HC it seems that we can expect an assay report to market any day now on Mapawa, but I don't know about that myself.

I understand that a lot of time has been spent in the past month getting all sorts of parties involved with the development through - including bankers, earthworks and process engineering contractors, etc. This clearly all takes time. As I understand it the legal side of the banking work is advancing as scheduled by the company (its well underway now) and the banker's technical work was completed as a prerequisite to the lenders becoming involved on the legal and documentation side.

Personally, although it would be great to hear of some massive moves forward soon, but actually having been in exactly the same process previously in other projects at a similar stage I realise that lots of things have to await others involved in the chain. So unfortunately we have to just hold off with the frustrations knowing that its coming together. That's my view.

(Having said that RED management has always demonstrated their desire to dot the i's and cross the t's on all detail before announcing anything).

With respect to Anglo, actually I am not aware that they have vented any frustrations with RED at all, I understand they were disappointed the MPSA was not granted earlier for Mapawa but have remained involved as a shareholder in RED hoping to get a piece of the action now that Mapawa is underway. I hope they get frustrated and give up any future hope of Mapawa as I believe its not in our best interests for Anglo to be involved on any basis resembling the previous outlined deal (now history) assuming Mapawa amounts to a real big project of course.