We know that RED has called a General Meeting for this Thursday...

We know that RED has called a General Meeting for this Thursday 21 Jan specifically seeking approval from shareholders for placements to a number of Institutions at 15.5 cents per share. This is a specific meeting, unlike AGMs which tend to provide a general status update of the companys business activities. Therefore, in a normal circumstance one would expect that RED will not provide any information via ASX release about any of its other activities. However, from what we have seen of RED in recent times, RED has taken a pro-active approach and seized the opportunity to update the market (eg on 2 previous occasions when the ASX has sought clarification of price/volume increases).

Whilst its expected that RED will just carry out the business of this meeting and nothing additional, to my mind, there is a SLIGHT chance that RED will take the opportunity to provide an update to the activities on site, and in particular to provide some status report on Mapawa drilling (Im assuming that RED is still drilling its first drillhole). IF RED didnt provide this update then this would be the more usual situation and I wouldnt read anything negative into no update being provided. But if it decides to update shareholders at the meeting, then it will have to put something out as an ASX release, and I would interpret this as VERY POSITIVE!

IF RED puts out an ASX release related to status update on Mapawa with any hint of something interesting being observed from the logging of the hole to date, it would be a very positive signal IMO and possibly suggestive that the company is reasonably confident of success with the targeting of that first hole - clearly until the first hole is completed and samples despatched to Manila for assaying there is no chance we will get any information on grades in that first hole.

As I have mentioned before, IF the first hole has a negative outcome this doesnt prove there is no major porphyry copper gold deposit being present, but a positive drillhole does confirm the geological conditions are ripe for such an occurrence!

I am waiting (impatiently) and hoping that RED will put out an ASX release prior to the General Meeting.