I am sure that if the company had information on the mine...

I am sure that if the company had information on the mine restarting then they would have to release it even if only a rumor, under continuous disclosure rules. There seems to be no indication on the news of anything changing in the Phil. One thing to consider is they already have locked in a number of investors at this price from their two mine acquisitions, which as I speculated earlier could be part of some elaborate deal to promote the raising, RED paying more up front for the mines but the sellers returning the favour by committing some of that cash back to the raising ... that was just an idea if it was legal.

A more realistic possibility to consider is that although the share price is lower than the capital raising, anyone interested in a large packet of shares would not be able to get them at market price, it would push up the price considerably. This is if some market participants saw extra value here. Given my analysis of the price of the mine I would happily be out at 5c ...