HI Haymart, I agree with your sentiments, but actually I have a...

HI Haymart, I agree with your sentiments, but actually I have a view that RED could easily run way past my estimated 40cps (at todays gold price) up towards $1.00, for 2 very obvious reasons:

1. If you consider that its fully priced for Siana at 40cps, just note that Mapawa could be many more times bigger and even more exciting than Siana. There is POTENTIAL for mineralisation at considerable depths at Mapawa (Siana mineralisation does extend down below 500 metres depth, but confined to various higher grade lenses), and if it is a true porpyhyry style Cu-Au mineralisation then several hundred million tonnes, like Boyongan up the road (about 5kms distant from Siana) is a real possibility and worth considerably more cps for RED - if they don't pursue a deal with Anglo.

2. If you compare the current market cap of MMl (in excess of $700 million!!!) to RED (around $100 million), and realise that apart from the blue sky potential that both companies hold in their respective portfolios, the resource base for Siana is very similar in total ounces of gold to that at Co-o, except that MML is currently in operation and the next few years at Co-o has higher grades. Thus if you consider RED should have a comparative market cap to MML, ie 7 x current RED share price = > $1.00

So you may consider it a dream, I consider its just a matter of time to see a signficant re-rating. Even the brokers are starting to come around to our long suffering shareholders view!