Ann: Red Sky completes major transaction with ERM, page-3

re: Ann: Red Sky completes major transaction ... This is a real pickle.

The company is getting 150m x 0.007 for the placement = $1,050,000
70% is reserved to fund their share of the exploration, so $315,000 into the coffers.

They are also getting $700k for selling the initial 10% of the permits and 2x $1m for the renewals.

So all up roughly $3m coming in, about 0.2c per share.

Selling the remaining stake to ERM would give another 0.63c per share (best case).

All in all, making very generous risk/return assumptions, this probably makes the current 0.4c price look about right.

The real question is now, what is the quality of the ATP840 & ATP946 assets?

ATP840 is discussed here, but there is not a lot of more recent information:
http://media.wotnews.com.au/asxann/01064611.pdf

ATP946 is discussed here. Try not to chuckle at RG comments at the bottom:
http://www.energy-pedia.com/news/australia/red-sky-energy-farms-into-atp-946

Any other opinions?

Hopefully we'll see something more substantial soon, those consulting fees need to be justified...