RIC -vs- PATGood question - Why is PAT up and RIC down?
When I looked at RIC a good while back, my conclusion was that RIC has a couple of mines with short reserve life and declining production. Not following RUIC any more, but at the time concluded that they could have to close a mine or maybe two before very long.
The success of Island Gold is 'A Must' for RIC.
So, if they have a couple of declining mines, why not buy PAT? You still get 45% of Isalnd Gold without the struggling resources. Nice and easy....just pick up the phone, sell RIC and buy PAT, and you get rid of the baggage of declining reserves.
Maybe that's who is buying PAT. Makes sense?