Symbol changed to RYSMF RYSME

Due Diligence

[fab4ever]

Just doing some DD on RYSMF and happened to be looking through some old PR's on RSM.

From December 9, 2002.

"Royal Standard Minerals announced today that the Company intends to commence construction on its 100% owned Gold Wedge project in the Manhattan Gold District of Nevada in February 2003 with a target of commencing pilot underground production prior to the end of 2nd Quarter, 2003, and achieving an annual production run-rate of approximately 50,000 ounces of gold per year by the 4th Quarter, 2003."

From November 7, 2005.

"The company's Goldwedge deposit is undergoing final fabrication of the gravity production plant this week. The company will then begin a phase of test mining, and is expecting to pour its first gold in the coming weeks."

The stock has been as high as $1.44 USD. Back in 2006. I guess investors were anticipating some sort of production judging from the PR's?

IMHO,  the gold is there. But why can't they get it out of the ground? It seems they've had enough cash over the years to do so? And they're not off on their projections by a couple of weeks. They're off by years.

Sorry if I upset some of you long time investors but this one sends up major flags.
GLTA

[sleeveen]

  I'm a long time investor but your comments don't upset me. I couldn't agree more with you. My regret is that I didn't get out a long time ago. I hung on and hung on despite desperately poor results, accusations of incompetence and worse from shareholders. I don't have much hope that this company will ever get going again but every now and then I read something

[mayday50]

I couldn't agree more sleeveen I am in the same boat as you! But I just can't bring myself to sell either, I am hoping one day! 

[fletus]

sprott still hold about 15,6 millions shares Amount Beneficially Owned: Sprott Asset Management LP:  9,865,380Sprott Canadian Equity Fund: 5,813,097       (b) Percent of Class: Sprott Asset Management LP: 11.8%Sprott Canadian Equity Fund: 6.9%UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549SCHEDULE 13G/AUnder the Securities Exchange Act