RED - RED 5 LIMITED

[charleslew]

IN REPLY TO A POST BY The_Muns, Thu 22/01/04 06:48pm   [READ POST] With there good annoucement and this I've seen below, these guys could really start to move.

Muns. Was this a recent Govt. ann. if not, can you give us a date please?

[Golconda]

Nice turn around today.

[Golconda]

Looking good again today,anyone still watch it?.

[dreamer]

Anyone here folow red5, some good buying this arvo, any experts on this one. THANKS

[Black cap]

Yep - I've got a few RED5 and have held for a while. They are very much a spec, the gold play in the Philippines looks pretty good but is a long way off development. The copper/gold target is even more speculative and could chew up a fair amount of money before anything comes of it but if they strike it will be big and the share price should rocket accordingly. RED also have 9 m RNG shares acquired at a nominal value of 13.1c - and RNG will be producing well before RED so that's a big plus and reduces some of the risk. Have a look at their recent (and unfortunately few) announcements on drilling results from the Philippines. Lack of announcements and a big seller have depressed the SP over the last few months.

 

Don't take my advice, do your own research.

 

Cheers, BC

[dreamer]

was that a good ann today or a great one, i don't understand the jargon.

[Black cap]

In my humble opinion a very good to excellent result, the grades and widths were good - i.e. they found material with good quantities of gold in it and there was also a fair amount of this material present (in laymans' terms). This follows up some reasonable results previously announced. What they are after is an upgrade or increase in resource from what they originally predicted by drilling more holes and seeing what is present. They appear to be on track with that aim.

 

Cheers, GF

[dreamer]

Thanks blackcap, bought a heap at 13c ,hope it keeps on going . Can you see much more upside in this as it reminds me a bit like oxiana and also with the giant mine anglo saxon have right next door to it. I understand anglo wanted to become partners with red but the directors decided to go it alone with the drilling, i also understand that red5 mgt are a very experienced team, do you know much about them? CHEER'S

[Black cap]

G'day Dreamer - upside? Who knows but I certainly hope so. I wouldn't want to offer advice on that though. IMO a resource upgrade is likely and that should help the share price but it all depends on the mood of the market and how large the upgrade is. I don't know too much about the management - I've sent them only one e-mail and they responded reasonably quickly and competently. Some would say the decision to go it alone without Anglo was arrogant and stupid - but in the long term who can say. As I said earlier - the 15% of RNG they hold won't do them any harm - I certainly like RNG mgt and their project at Indee looks great. So all in all RED has some good things going for it and I'm going to hold for a while.

 

Cheers

[dreamer]

Does anyone know when the next drill results are expected and when the qtly report is due. Ithought last ann on drilling was excellent and trend seems to have reversed.