RE:RE:Like 30M Shares Out?
At one time RGC management wanted to parcel out the property into smaller claims, selling them off and maybe keeping one. Who knows if they still consider that direction or not?
Commercial production in 5 - 7 years is very unrealistic, even with the best of partners. Compare RGC with Nova Gold, only because they are both Alaskan. NG sits on 33M ounces of proven gold and they still aren't producing and NG is on mainland AK. Barrick is their partner but they are not on fire to open NG up. They're working on it, but it is taking a ton of time. RGC will be lucky to have accomplished an approved feasibility study in 5 - 7 years, and what will that cost, and what do you think the float will be by then?
Try looking at Tangold, (TRX). It has over 200M shares out selling in the same range as RGC. However, TRX has just emerged as a producer after having been an explorer for the better part of this century. They produced their first pour from an open pit at a cost of $400/ounce just this last June. They will soon have deep drilling results that could prove an operation that will produce 175k ounces per year. They expect to be at 15-20k ounces/year in the immediate future. They just hired a new CEO to get them there. They are partnered with the government.
I like the producer better than the explorer for my buck/share. Each to his own. GLTA