the nearby MGN mine which is not as far along as Rock Creek has their stock down hard today. I wonder if RVM sealed the deal by all this good will they have created. It would seem to me that Montana would only allow one of these two mines to open. Let the one with the proven track record open. the company that cares about its employees and the local economy. the company that hired a park ranger and donated thousands of acres for Grizzly Bears. The company that donated hundreds of thousands to the local schools to construct a gym.
MGN has ZERO revenue for years and has a market cap of about $30M or about half of RVM. The MGC proposed mine is about the same size as Rock Creek but a little smaller.
In other words, MGN with no revenue and no Troy mine, and $15M less in cash than RVM, and a smaller mine in the approval phase and not as far along as Rock Creek, has an enterprise value (market cap minus cash + debt) of only $15M less than RVM.
That's what I have thought about for along time. It's cost me money though. Long ago in 2009, when you were also bullish on rvm., I wrote on the mgn board that they should buy rvm with their excess cash. They then would sacrifice one of the projects to allow the other to go through. Rvm was low enough back then for mgn to buy them for just cash( Mgn had 25 million at one time) . It was not a popular idea. then. i totally agree with your analysis.. Also, what do think of usgif?