When you are right, you are right. Thanks for the heads up on RVM or I would have lost more than my #$%$ - I sold the open at 1.13 and was ready to call Shanahan.
"The Western News" is a good future newspaper source for RVM locally. I'm out. Buy .16 cents.
They've burned through too much $$ trying to stay alive. Now they are down to a skeleton crew with almost ZERO hope of ever getting Troy back into production. Any quality ore left in Troy is too hard and too costly to reach. There's just not enough time or money left to do so even with the reduction in staff. Let alone ever get Rock Creek up and running. The company in it's current form will not survive. This move just keeps a few management / staff with a paycheck for a few months maybe.
The best hope here is some one with DEEP pockets see's the Rock Creek potential and buys them up. That should be their focus.
I DON'T believe it. There is nothing in the share volume to support your statement. Management wouldn't pay people & keep them on the payroll for all these months & then simply throw in the towel & close the mine. I certainly hope no one reads your topic & makes a decision to BUY or SELL, based on it.
I would say in all seriousness, though others might disagree, that RVM would be worth more than what the market capitalization is presently with the shares trading at $1.25 even if the mine did actually shut down indefinitely! The speculative value on the shares would be worth at least $50M based on the mine possibly reopening someday and the remote possibility of the Rock Creek mine getting approved for issuing all necessary permits. The Troy mine has produced in the past decade more than $25M in silver alone! That's not counting the money made from copper which is what it produces in far greater quantity. What's the prospect of such a mine reopening worth once it has been shut down indefinitely ? It's all in how you look it.
I know one thing for certain. I am keeping my RVM shares for at least the next three years. If I lose all then so be it. However, the way I look at it, he potential loss of my entire investment in RVM is actually worth the potential gain if things work out because I see this stock as a ten bagger if things fall into place in just the right way.
I would quickly add one other thing and then leave it alone. Silver Wheaton SLW is the largest shareholder and they have not been selling. What does that tell you? It tells me that folks who do this for a living see the value at least from a speculative point of view.
volume would be much higher in that case. There is no reason to close the mine. The ore is still there. They just need to re-route an access to the ore.
Now layoffs I could believe. should have been done 6 months ago. About time the CEO grew a pair.