Thanks Councilgritter. With regard to the violence much further...

Thanks Councilgritter. With regard to the violence much further south, I do believe that people have to recognise that there are no-go areas for foreigners in Southern Mindanao, but as you have stated, both Medusa's operation and Siana even further to the north are way out of the areas having significant problems - and even in more civil communities in other countries (INCLUDING Australia) we occasionally get a reminder of security issues.

As we have all observed the share price of RED has always been discounted to some degree by the "Philippines factor" (which is a combination of bureaucracy, civil unrest, political issues) but as we have all observed recently Medusa has demonstrated that if you have a good gold operation the market will eventually overcome that sovereign risk issue - I'm of the view that RED will also eventually overcome the discount in its share price.