Rio Novo Gold Inc. RIVVF

Current Valuation

[elgin1]

Dundee is selling mostly at 6 (sometimes as anonymous) canaccord is selling some recently. Not much retail investors are around selling - mostly just one company.  Their ball mill is worth 10 million - RN is trading at cap of 6.3 million. They have three gold mines. Almas is has DFS and SRK report certified 43 101 . Costs are $750 to mine it but have gone down  since Brazil Real has decreased by 25%.  Mr Britos -founder of Yamana gold - owns more than 51 % of company, Creighton capital, Drexia capital, Sprott owns 2 million shares at  a cost of 34 centd, some other private shareholders account for more 85% of float.  There is 15% trading in the open market .


Columbia mine is high grade bulk mining. Problem is previous management spent like it was a major producer - so cash is very tight. IF new CEO can get cashflow from Columbia mine (capex of $300) keep things going, Almas can get financing. Real jewel is  Matupa - 14 km of fault hat has gold trend threw it - has 2 million ounces with lots more. 


Go to RN website and do due diligence yourself. Read DFS on ALmas and specs on other mines. I have owned RN since 2011 and am holding - bought more down here. Good luck