Hopefully the 25% increase in the Red5(RED) share price on Friday has nothing to do with Medusa. We don't need to takeover or merge with RED.
It did coincide with a 222k line wipe of the MML buyers on 29c and there was a further 467k to sell at this price at the close. So MML was down over 3% on the day but a lot of the gold miners were down on the day.
Hopefully RED increased because they are close to getting a permit for their tailings storage expansion which they need before doing their underground development. The appointment of a new Environment Secretary is a positive for them as he is now seen to be expediting the issuing of new permits, maybe there will also be a change in the policy regarding open pit developments that could assist our Bananghilig gold project.
Two weeks before the quarterly so it's getting close to a change in the news flow from negative to positive.
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