red resources, page-2

They will need more money for sure and a capital raising would be close.My guess is 150m shares at 8c to raise a much needed 12 million.

The last transfer of shares as reported by RDR from David to Chris was a million shares.These shares are to cover a pledge Chris has with a lender.These shares are probably being sold on market to cover the "margin"

Cash is critcal and the current cash burn at Meeka and West Perth would be millions per month.

Chris owes the company $150 000 as reported in the annual report and is transferring over a million shares to a lender to cover a loan facility.A key executive of Mineral Resources has stated that Mt Marion is a no go and yet he draws a 400k plus package to advance that project and other prospects the company has.He needs to be asked to leave and pay back the 150k.

Meeka is looking shaky so if you could get 11c for your shares you would be doing well.

Credit Suisse will have first call on any funds that are realised from the sale of the project if the situation continues to deteriorate.