OTCPK:RIDYF - Post by User
Comment by
histakeson Jan 19, 2007 6:17pm
263 Views
Post# 12054584
RE: question
RE: questionI suspect a couple of scenarios could be in play. Firstly, with this company’s Canadian assets, a hostile takeover is a high probability. Possibly Northgate with their failed Aurizon takeover is hungry for another Canadian acquisition. My sources tell me, RIC management is not interested in selling out. They are tightly holding this company and are confident with their properties. Secondly, RIC insiders could be accumulating more stock before they must (#5102 OSC rules) announce the drill results at Island Gold. RIC management is aware there is a backlog of Island Gold drill samples at the assay lab.
Could a market maker be involved? A buyer is accumulating and at the same time capping the stock at $2.80. When the $2.80 price is broken, this stock will go to $4.00 with ease. When gold breaks $650, RIC will run upward and RIC volume will increase. A $5 - $6 stock price will not be surprising before spring.
A Canadian asset such as Island Gold is too valuable to be ignored in this gold market environment.