Re: Nice SP surprise this AM. EOM
in response to
by
posted on
Dec 14, 2009 11:22AM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
It's interesting that Brent Cook thinks that RR is a $4 stock. But, SGR is overpriced at these levels and only likes it for the exploration potential. Seems to be panning out that way. A person on SGR's board mentioned to me that he wanted to keep it strictly an exploration play but was out voted. If we would have remained an exploration play as per his professional opinion not my 20/20 hindsight vision. Our dilution would be considerably less and our SP would be proportionally higher. The market doesn't give us much credit for production or even anticipated production. It seems in the big scheme of things 250,000 oz production is not enough to get the bigs excited. Can't remember which analyst stated it but we are too small for Barrick, G may take a run but only for exploration potential. Which leads me back to production. It seems that the production component is starting to be an Albatross around our neck. How much infrastructure does RR have? Not a bit I believe. They do provide operational updates and a 43-101 seems important to them even if their last one tanked their stock by a dollar.
December 10, 2009 Rainy River Provides Update On 2009 Exploration Activities, Corporate Developments And 2010 Plans |
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Exploration and Development Highlights:
VANCOUVER, B.C. December 10, 2009 - Rainy River Resources Ltd. (RR.TSX-V) (the "Company" or "Rainy") is pleased to provide an update on the Company's exploration activities, corporate developments and 2010 plans. 2009 Exploration Highlights The Company's 2009 NI 43-101 compliant resource estimate was prepared by SRK Consulting Ltd. ("SRK") and in May, 2009 the Company announced Indicated resources of 2.2 million ounces of gold and Inferred resources of 1.8 million ounces of gold (see news release dated May 27, 2009). Since mid-December 2008 (the drilling cutoff date for the 2009 report), the Company has drilled over 110 holes which will be added to its updated resource calculation, to be completed by SRK in the first quarter of 2010. |