GREY:RIVVF - Post by User
Post by
nosieparkeron Oct 06, 2013 2:16pm
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Post# 21794788
Kindergarten was the best year
Kindergarten was the best year
I agree completely, it is not and never is management’s job to prop up a stock. Nor do I ever expect people to be working for free. Here is the problem, according to Elgin, management has provided resource estimates of 4.4 million ounces of gold and the Company has contributed USD$91.5 million. Excuse my poor kindergarten math skills but I believe that management has spent close to USD$21 for every 1 ounce of gold resource. The market is currently valuing that at CDN$0.90/ounce. I believe that there are many smart analysts that follow these junior gold stocks and Rio Novo does not appear to be on anyone’s list. So the community that buys supports and promotes these junior gold stocks appear not believe the resource that the Company claims it has.
And my issue with a cheap financing is that it will in all likelihood go only to Cyprus River/Soneplan who will also get a warrant that will be good for a couple of years thus diluting our positions further. What would be nice is to have the financing also open to all current shareholders. And it would also be nice to see this group invest through the open market - novel concept.