Red Eagle Mining Corp RDEMF

SORRY FOLKS I AM OUT

[wiseyoungman]

I sold my entire position this morning. The news release did come out at about 6AM PST to those who subsicribed to Company's NR's so I had ample chance to digest. However news was leaking out before that in the weeks past. I sold at bit the last few weeks but remaining 85% this morning. I got in this early for the most part but I still had a huge loss on paper for what I could have made. Should have would have could have. My concern here is not just the dillution. The rights will benefit the big boys. I would never buy into it. However my bigger concern is the issues surrounding this operation which will continue and increase. Everything in mining takes time. Management has ZERO credibility left when they say 2018 will produce 50,000 ounces. They have been dead wrong on estimates and timing since late last year before the commercial production period. Also will there be environmental and permitting issues? Logic says yes. I doubt you can build another facility without some type of revised permit. A new mine plan? The existing all in cost estimates are obsolete. Will the new mining method yield the same strong results on paper as we had? The corporate presentation is worthless without much more information. The list goes on. Finally, yes this stock may have a dead cat bounce but my view is that there will be lots of chances to get back in this several months down the road at a much cheaper price. I may not do that however. Too bad things ended up this way, but welcome to mining.