kiernan takes stake in redbank, page-19

Hello Upintheair,
'All's on the level' with me not knowing the Keirnan Family , it was just I had to also defend myself in the RBM Thread from similar thoughts from some Posters there.
Anyway some thoughts here which may be of interest. MON were trying to find $35,000,000 for Mt Magnet etc. and a purchase deadline was 30th of June 2008. Davyhurst was hit by many things, High Aussie Dollar, High Deisel Prices, weak Gold grades etc. and it had become a Cash Burner . The Kiernan Family had 'put up' $15,000,000 for a Share Issue in MON plus were going to underwrite the Issue to another $10,000,000, then it looks like they had 'Second Thoughts' and put MON into Voluntary Admin. because of the experience with Davyhurst may have given them ' Wet Feet' re the purchase of Mt Magnet from Harmony. Presently there are by last Announcement from the Admin. Eighty Parties interested in various MON Areas and Mines.
Hopefully for MON Shareholders the actual Cash returns to MON or whatever could end up satisfactory solution.
In the meantime I'm just happy to see the Keirnan Family showing interest in RBM where possibily some good Announcements (re Cashflow position and Copperado )in the near future could see an improvement in the RBM Share Price and then it would be possible that the Keirnan Family ( which look to have good Funds behind them ) may wish to increase their holdings via a Placement or an Issue in RBM.
( I've Position in RBM ).

No responsibility taken for any losses in association with this Posting.

Regards,

moly