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mardo

225 Posts.

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31/08/15

21:42

Post #: 15908887
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Originally posted by Holdonman ↑

GJ;
There must be some focus on "background noise" or reconciliation as RED raised money from an ASX SPP offer at 10c per share and now shareholders are currently are sitting on a loss of about 40%; see ASX SPP 17/9/2013 page 11 & 15

Budget $4M see Pg 15
"The company has identified a site for a new tailings dam facility and has commenced the process for land acquisition and permitting". Why would the word commenced be used in the 2013 SPP when the latest June Q 2015 announcement states the company has narrowed sites from six to two??? That does not look like commenced land acquisition to me!!!

Budget $2.4M
"De-watering & other sustaining capital"; as noted in previous posts & by RED ASX announcement this year; significant material movement occurred in the open pit by slippage mechanism; high water levels were also apparent in the open pit during & post the C & M period as depicted in several images likely leading to the pit walls becoming saturated (my opinion only); Why would a budget be proposed for de-watering and then images show the pit floor seemingly became flooded inclusive of the dry season (see image ASX 8/10/2014 Pg 3 for instance & image below).

Ref Digitalglobe 27-01-2015 Siana mine via satellite imagery
View attachment 91957

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According to me the C.O.D was not lifted until 7th Jan 2015 so why are you consistently putting out this tripe 7 months later when they were given the go ahead to start producing gold .
Of course the pit had some water in the bottom as is the case with most mines that have not operated for a while.
Unless you are showing us up to date pictures stop feeding misinformation on this site.

RED Price at posting: 6.1¢ Sentiment: Buy Disclosure: Held
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