OTCQX:RPMGD - Post by User
Comment by
ts9222on Aug 18, 2017 10:44am
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Post# 26596128
RE:Rye Patch Gold Increases Haulage Capacity at Florida Canyon
RE:Rye Patch Gold Increases Haulage Capacity at Florida CanyonThat is great news despite people saying there is no news. There are other miners that spend years to build a mine. Years, and people on this board complain about 1 month with no news.
4 more haul trucks in addition to the 2 that was already added.
"The crusher is routinely operating at 20 to 40 percent over plan requirements and is permitted at 60 percent over plan at 1,600 tons per hour, effectively bringing the 2018 expansion forward,"
"A portion of the $10 million equity raised by the Company in June 2017 will be applied in this purchase consistent with the use of proceeds described in the prospectus."
There you have it, they are using the $10m to bring the 2018 expansion forward to 100k oz/yr, contradicting the doomsayers saying they are using the $10m to fund operating cost. 4 additional haul trucks is clearly expansion. Plus the second pit they were accessing in July.