OTCQX:RPMGD - Post by User
Comment by
BuhlzIon Aug 30, 2016 12:51pm
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Post# 25191629
RE:Nice Update
RE:Nice Update I hope you read the update carefully. Seems like their about 1 quarter behind their initial projections to have the mine into production. The initial projection was to have the mine into projection during Q1 2017
https://www.ryepatchgold.com/_resources/Presentation_Florida_Canyon.pdf
Also, another warning: There's risk associated with what the mine might produce. A feasibiltiy study was not performed.
The company cautions that the PEA is preliminary in nature in that it is based on inferred mineral resources which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
The company's decision to place the Florida Canyon mine into production is not based on a feasibility study of mineral reserves demonstrating economic and technical viability, and the company cautions that historically such projects have a much higher risk of economic or technical failure.