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My mother and i saw a green light flashing in the nw sky and assumed it was an aircraft, then we realised most aircraft do not flash green at consistent, one second intervals. the object moved s, hovered and flashed as a red disc with white center. then the object moved nw again and repeated the flashing sequence. it moved w , hovered and repeated the flashing sequence. after the last, red/white flashing sequence, the object moved lower in the horizon until we lost sight of it. this last about five to seven minutes.