RE:RE:RE:RE:RE:RE:PI Financial: Buy rating and $0.80 target for Rye Patch GoldWhat does definition have to do with permission to leach?
https://www.stockhouse.com/news/press-releases/2017/03/30/rye-patch-receives-state-approval-to-irrigate-new-pad "VANCOUVER, March 30, 2017
Florida Canyon Mine Re-Start Complete
VANCOUVER, March 30, 2017 /CNW/ - Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the "Company" or "Rye Patch") reports it has received approval from the Bureau of Mining Regulation and Reclamation to start irrigation on the new South Heap Leach Pad ("South Pad"). In spite of the severe winter weather this year, the Florida Canyon mine re-start has been successfully completed."
From Q1 report "Approval to commence irrigation was received in March 2017 and the first application of cyanide solution was made in mid-April."
If they didn't have approval to leach, it doesn't matter if they have been mining for 10 years, no gold will come out, no matter how much you demand it.
They have been stacking earlier, that is why they had higher production than planned in the beginning, and also why expectations were overinflated.
What do you want, have them break regulations and leach before getting approval?
You can complain and declare doom all you want, but miracles can't happen in 2 and a half months of leaching.
Fullplate wrote: Let's not split hairs on definitions. Rye Patch has not reached commercial production, but they have had production operations (mining, hauling, crushing, stacking, and now leaching) for over six months. My point is that problems have been numerous, and share price increases will come after they can show that problems do not continue to stall meeting production targets. It is not yet a serious problem, but they have to get them solved.