Quarterly comments, page-26

Cheers for your views dr spok, so they may only be able to mine the open pit for 3 years? Hmmm. I was hoping it would not be that bad, as at a guessimate, it will cost in the order of $20 million to access the underground reserves? (I am just going off RMS which is doing exactly this in Australia on its Vivien project)

I get that the recent slip will indeed affect the open pit, but... as you say, in the end, they would need to move more dirt, surely that is preferable to going underground? (even though I realise the grades are good underground, the grades in the open pit are good too).

Perhaps thats why they are really looking hard at exploration nearby, if they could find something economic with a fairly small cost to get into production, it might push out the overall open pit minelife etc.

At at guess, will costs ASIC that is, push above US $800? With the higher strip ration. For me, if it was that high, then the risk/reward ration become to high, there are heaps of gold stocks with upside, that have less risk than RED, although I do think the new management have done all they can with the project they took control of.

Good luck to those that continue to hold.