GREY:RIVVF - Post by User
Comment by
eebleron Mar 25, 2011 1:14pm
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Post# 18341292
RE: RE: RE: NEWS ... Drilling Results
RE: RE: RE: NEWS ... Drilling ResultsThey aren't exactly knocking it out of the ballpark right now. Drill results are okay with the occasional "ooh", but nothing that says they've landed on a major new discovery.
What got the biggest bang recently was when they announced the acquisition of the ballmill, and if I were to offer an opinion it would be that progress of Almas is of higher interest to the general investor.
I know that right now my own interest in RN is from the fact that they have stated the ability to have 2 mines producing 200k ozs total per year within the next 2-3 years, and maybe a 3rd mine which would probably mean 300k ozs per year - all at very low capex and lower quartile cash costs. It is a personal opinion, but I don't really care right now about whether they find new stuff or not. They have another 3-4 years to extend minelife and find new economic deposits. Right now they have a potential development stage company that could be a notable enough producer within 2-2.5 years, and instead they are losing focus on what look to be small offshoots and trace material.
eebler