I had a call from RED5 yesterday; I won't mention who but very, very high up.
1. I mentioned I will never be able to get my investment back under the 10c SPP. He mentioned that is right you will probably lose 80% at best.
2. I mentioned dams are designed not to fail; he agreed.
3. I mentioned I can see what was happening; ramping up 1500tpd (Jan), 2000tpd (Feb), 3000tpd (Mar); I said this was good.
4. I mentioned this dam failure has cost me everything; see point 2
5. We had a conversation about ex-MD; I said why don't you pick up the phone; he said I've tried.
6. We had a 15 minute conversation; I tried to be convinced about 10c SPP; I just couldn't
7. I have also dire circumstances personally; I was a consulting engineer in 2012 and have been smashed by a workplace injury; toxic exposure; for me the game is over; plus on the back of RED 5 demise a double whammy. Even in a fit state I could not present funds to this project.
I am sure I am not the only one feeling this sought of pain; RED 5 needs to understand the pain they have caused to shareholders. I don't think the really grasp the reality of what they have done.
HoM
RED Price at posting:
62.0¢ Sentiment: None Disclosure: Held
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