Some background on our new...

Some background on our new MD.

http://www.asiaminer.com/magazine/current-news/news-archive/136-july-2011/3619-movers-a-shakers-new-trelawney-officer.html

It looks like he has a lot of experience relevant to getting RED mining profitably.

December and January are the wetest months where the mine is located, so mining activity should start to improve shortly. New contractor (Galeo) arrangements will vastly improve earth moving machinery availability. Geleo is a well established mine contractor in the Philippines while the current contractor obviously seems inexperienced - link to Galeo

http://www.galeoequipment.com/

Galeo does a lot of contract mining.

http://www.shibang-china.com/brilliant/mining/galeo-equipment-and-mining-company-inc-located.php

I suppose RED chose the current contractor on the basis it was the cheapest bid, which in this case has proved to be a significant error that is being resolved. I wish they had done it in November last year when it was obvious they would continue to stuff up.

Testy time for goldies. Investors want yield on their investments and are impatient. In the meantime there is a heap of shorting going on in the US/Canadian gold producers, because they have disappointed for a long time, causing fear everywhere. There is no problem with the POG, a healthy $USD1677, so a huge margin for RED holders once things are sorted out.

loki