well its least its up, page-7

Colinjc - I don't have any problem with your whinging at all, its just showing the frustration that you share with all of us RED shareholders that consider RED has continued to be categorised as another gold spec.

But we all have one common goal, and that is to get full value for our shares, and over time when RED is in production it will be much better thought of, and at that time it will trade at a premium to the fundamental value ( at that days gold price) - that happens to EVERY gold producer that is long life, low cost. RED will be in that category in first quarter of 2011 - and the changeover in sentiment is hard to pick but it should start to move no later than a couple of months before that first production IMO.

As for your view about the fund-raising, no I don't agree at all, for a couple of reasons:

1. The timing of an issue would have been a major problem for getting it done, especially in concert with getting th debt finance in place.

2. There would have been no guarantee of funding from shareholders that at the whim of market sentiment or gold price can change their view.

3. The pricing of an issue to shareholders would have put a cap on the share price when it was running up to 19.5 cents, we got the best possible price through the insto's.

4. The insto's have got the capacity in the future to push the share price up much higher, and they reduce the amount of odd lots being dumped in the market. For me that is a real positive going forward.

IMO we were very lucky to get such a big placement away just as the gold market (and general market was collapsing) and its now in the kitty! $65 million cash is no mean feat!

I am going to buy more RED, but I want to time the purchase to get the best possible price for my next lot, and wait for any weakness for that to happen.

I AM A LONG TIME AND LONG TERM BULL ON RED!!!