RED 0.00% 34.5¢ red 5 limited

Not so good PR, page-10

  1. 1,327 Posts.
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    Poor management has brought this company down; 1st the tailings dam walls became saturated then the open pit mine walls became saturated due to pit flooding and the subsequent rise in the water table. The images presented by Dr S of the open pit suggests multiple slips as a result of pit flooding yet a pit pumping station is clearly shown, the RED website details a curtain of bore pumps to keep the base of the pit dry and pit sumps were designed and built in 2012 along with the purchase of 1000L/s diesel pumps. Maybe if they spent less on conferences and more on pumping during the C & M sabbatical period they would not be in this position. And lastly to blame an earthquake that occurred 3 or 4 days earlier at a location that was already slipping 3 months prior on the East side is a tall one to swallow.
 
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Currently unlisted public company.

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