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Red Pine Exploration Inc V.RPX

Alternate Symbol(s):  RDEXF

Red Pine Exploration Inc. is a Canadian gold exploration company. The Company is in the exploration stage and has not commenced any commercial operations. The Company’s flagship asset is the Wawa Gold Project. The Wawa Gold Project is in the Michipicoten Greenstone Belt of Ontario. The Wawa Gold Project covers over 7,021 hectares (ha), including 309 claims covering 4,788 ha; 17 leases covering 790 ha; and 105 patents covering 1,443 ha. The Wawa Gold Project hosts several former smaller scale mining operations with a combined historic production of approximately 419,560 tons with a recovered 120,093 oz of gold at an average head grade of 9.04g/t1 Au, is located approximately two kilometers east of the Town of Wawa in northern Ontario. The Company holds claims on various other properties, which include Cayenne Property, Fern Elizabeth Property, and Rand Garrison Property. Cayenne Property is a 133-ha property. The Company also holds NSR royalties on various properties.


TSXV:RPX - Post by User

Post by goldsoldaton May 04, 2024 1:58am
255 Views
Post# 36022952

Price Drop

Price DropI am a new shareholder after the price drop. I am not a geo. I have no information to support this opinion. It is guesswork. Given the 9 drill result releases rom May 15, 2023, and the due diligence of institutions, I doubt this is any form of Bre-X or similar. I think the re-assay results will be similar to existing. I think there is a problem, however. I am guessing the metallurgical testing showed a complex ore requiring double the anticipated cost of refining and therefor a double plus AISC. I think the re-assay is to confirm metallurgy. If so, this is not a disaster justifying current price. Given the ore beginning at surface (open- pittable), if the drill results are cut in half, it is still a viable operation, and that is without any gold price increase. Goldsoldat
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