RE:added another 35kfrkcaro01 wrote: keep builing position...
this is the cheapest mine out there and hedged at 1276....
I have a solid position as well, although at an average cost of $0.30 per share. I am trying to understand why all this negative pressure on the stock as the valuation of gold reserves seems to be influencing the share price on gold pricing swings. I would have thought that the volume of gold production hedged at $1276 would out weigh the impact of gold reserves, unless retail investors unfamiliar with the company are selling shares..
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Also with having approximately 400 million shares outstanding, the earnings potential per share is not strong unless they can deliver an AIS below plan..
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Rye Patch Gold is better positioned than most small tier gold explorers but when compared to producers may look weaker. I anticipate we will see some positive developments once they pour their first gold, officially joining the ranks of gold producers. .
What I hope is that management not slow down their drilling program and continue to build their reserve and eventually connect to some high grade gold. Rpm is not strapped for cash so there is potentially opportunity for growth here.