NYSEAM:RVM - Post by User
Post by
Icarusonfireon Jan 20, 2015 11:31am
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Post# 23339278
Stick a fork in it
Stick a fork in it
You could see this one coming from a mile away. Before the shutdown at Troy, their all in cost of silver was in the $27 to $29 an ounce range. With copper crashing there was no way they could make a go of it at today's prices. The shutdown of the mine due to the earthquake came at the perfect time, they couldn't have made any money over the last year and a half with silver below $25 anyway (even with the I beds)!
My only question is where is the Rock Creek permit? You'd of thought we would have heard something by now! Did they place this on the back burner because there is a time limit on developing the mine from the date the permit is approved? And they know they don't have the money to develop Rock Creek any time in the near future?