price of gold, page-2

HI Pattoman, an interesting article.

With gold finishing on its highs at US$1,150/oz on Friday night closing session it might be an interesting day for RED, especially if the roadshow to London, HK and Singapore has some positive buying support, as seemed to be the case on Friday, on record 1 day volume and a gap up at start of trading, and finally up 2.5 cents on the day.

From my analysis, RED's 90% of Siana + $20 million cash in bank gives a fundamental value of $0.40 per share, and that excludes any value for Mapawa.

The irony of that is Mapawa could absolutely DWARF the value attributed to RED from Siana!

When RED announces exploration at Mapawa it will be interesting to see what extra value the market places on it - especially if they have a 500+ metre intersection of copper and gold. Mapawa has the potential to completely change the economics of the Boyongan porphyry copper/gold project that sits 5 kms to the NW of Siana!!!

Then we may see more corporate activity by Anglo, and its relationship with RED. As you may note, Anglogold currently holds just over 10% of RED shares presently ...