Ridley Corporation Ltd T.RIC

IAM Gold looking for low cost producer and RIC fits the bill

[newcomer21]

With $500 million in the bank with the sale of their Quebec niobium mine, IMG may be looking longingly at RIC as a potential take over target. RIC can be bought of 150-200 million and it would be an accretive acquisition, contributing to a lower cost and longer life mining operation in Canada. IMG is being squeezed hard to come up with something pretty quickly to reduce mining costs and top get out of unstable jurisdications. The easiest way is to buy a well run Canadian gold miner. I can think of no other reason why RIC continues to climb on the current weakness of the Gold price.

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