With the Mapawa announcement I may have contributed to an...

With the Mapawa announcement I may have contributed to an earlier expectation of an announcement after someone asked an opinion of when the results were likely - but I did couch that with the "subject to no problems with drilling or if the hole was deeper" disclaimer, so maybe I can claim force majeure (Lol).

But at the risk of repeating my earlier comments, IMO the fundamental value of RED's share price is solely based on Siana, and at the current gold price its discount (greater than 50% discount) is considerable upon production commencement.

While current punters might have assumed value for Mapawa, that valuation would be considerably above the 30+ cents if Mapawa is eventually proved to be a goer. Of course the very fact that RED has already confirmed the right lithologies and sulphide mineralisation at some intervals in the core at levels around 150 odd metres depth indicates that Mapawa drillhole 1 will be only the start of the exploration campaign regardless of whether it hits mammoth intersections (which is unlikely from a probability point of view when drilling such a beast). Just be aware than in any already proven world class porhyry system (which Mapawa is not at this stage of course) not every metre of every hole will be mineralised.

I will hold whether Mapawa is a success or not, Siana is where the gold is proven already and where production WILL happen. The big payout will be when its current discount turns to premium as for any gold producer, but who knows when that will be! I certainly don't want to be speculating on that changeover, I want to be in there for when it happens.