Rye Patch Gold RPMGD

RE: RE: RE: RE: RE: Geezuz

[pipefit2]

The problem with REN was that Rye Patch had only a $250,000 penalty written into the contract, should the seller of the property fail to complete the transaction.  Don't know what they were thinking.  They should have either purchased Barrick's right of first refusal, or made the penalty much higher.

But that is beer under the bridge.  They need to prove up Lincoln.  Wilco is a pipedream, it would seem.  I think even GoldRidge has a better chance than Wilco.  There is no way in hell that Lincoln is not economic right now.  Just the silver alone is worth $420 million, and it is barely below the surface, and that's not counting any silver found last Winter or in the current program.

The reason the stock price has gone sideways is that they are printing shares faster than they are finding gold..  I'm all in favor of poking a few holes here and there, following up on past successes, but they need to go all in at Lincoln, and get one marketable property.

The idea that they can keep doing pp's and slowly build up 10 million ounces isn't going to work.  They need to sell a property, and that property is Lincoln.  Once they do that, they will have enough money to drill dozens of other properties.  They keep doing pp's and the stock price will keep going sideways.