08:29:15 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Rye Patch Gold Corp
Symbol RPM
Shares Issued 144,948,746
Close 2015-10-02 C$ 0.12
Market Cap C$ 17,393,850
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Lundin refreshes Rye Patch buy

2015-10-02 21:23 ET - In the News

Brien Lundin, in the September, 2015, edition of the Gold Newsletter, refreshes his buy of Rye Patch Gold Corp., recently 14 cents. Mr. Lundin said buy Rye Patch six times between October, 2009, and July, 2015, at prices ranging from 16 cents to 57 cents. Assuming a $1,000 investment for each of the six buys, the $6,000 position is now worth $3,000. Mr. Lundin says the company has filed a demand for arbitration with Coeur Mining Inc. claiming the company shorted Rye Patch on its first quarter, 2014, payment of royalties from the Rochester mine. The newsletter editor reminds his readers that Rye Patch acquired a 3.4-per-cent net smelter return at Rochester by astutely snatching up vital claims in the area that Coeur had inadvertently left unclaimed. Now, Rye Patch says that according to an audit it has determined that Coeur underpaid Rye Patch for the quarter in question by $313,242. The newsletter editor says if Rye Patch is successful and the accompanying legal fees do not drain any ruling of its value, the company will use the money to explore its Lincoln Hill property. That non-dilutive source of cash plus a portfolio of projects in Nevada makes Rye Patch a good speculation at its current price. The stock remains a buy.

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