RE: PAT takeover - not likelythirdtry/secondtry wrote: "RIC has put very little of it's cash to get their 55% interest into the mine. .... Pat did all the drilling at their own expense....PAT will not get a cent back on the money that they invested into the mine."
That's not only absolute bullcrap.... it's downright dumb too. Where do you come up with this stuff??
The following is from Richmont's 2006 Annual Report: "In 2006, an investment of $23,378,339 went to the continuation of advanced exploration and development work at the Island Gold property."
Most of that necessary $23.3M cash came from Ric....and that was just in 2006 alone. Ric has been the operator (ie drilling IGold) since 2004.