TODAY... wtch RVS ... ROG
posted on
Apr 11, 2011 09:29AM
We may not make much money, but we sure have a lot of fun!
A great boost for RVS and ROG of course and hopefully, we can go
another good round on Monday. Although it sent RVS to a 52 week
high of 1.07 (close 1.02) I believe that we deserve to have a higher
share price, and in my humble opinion, we should be much closer
towards some other well established properties in Burkina Faso like:
VTR (1.93), ORE (5.03) and SMF (9.26).
Ironically, through the exposure of ROG Friday, RVS finally got an
extra couple of spotlights to draw the investing markets' attention
of what Riverstone really has. And, I think due to the overlap of both
NR's, plus the stock halt of both companies, it certainly created some
extra buzz out there. We need to do that again sometime soon :o)
However, for anyone still doing their DD on Riverstone, they have been
active in gold exploration in BF for around nine years. So, to get some
perspective here regarding RVS's current and future assets, in February
the company announced an upgrade of their NI 43-101 compliant
resource estimate, which increased the contained ounces of gold by
70% from the company's initial estimate in May 2009.
Their flagship Karma project is now currently a combined total resource
of indicated and inferred of 1.9m ounces. However, this did NOT include
thousands more meters of drilling results received since the end of last year.
review all the details in their Feb 28 release:
http://www.riverstoneresources.com/s/NewsReleases.asp?ReportID=444693&_Type=News-
Releases&_Title=Riverstone-Increases-Gold-Resources-at-Karma-by-70-Percent
All of this, is in addition, to owning 40% of their optioned properties to
Roxgold with agreements granting the right to ROG to earn a 60% interest
in Riverstone's Bissa West, Solna and Yaramoko properties in Burkina Faso.
Finally, RVS's upgrade estimate does NOT include the most anticipated
results to come from their new Nami property. This also could add much
more to the total deposits later this year and lead to yet another increased
43-101 upgrade.