Today’s news that Rye Patch Gold is getting a $6.2 million dollar refund on its reclamation bond with the State of Nevada is good news for a company which is already meeting its production expectations for its Florida Canyon and Standard mines.
Rye Patch has been attracting a fair bit of analyst attention recently:
According to Canaccord Genuity:
https://app.box.com/s/j683klkk1yz5po4azr1xscjkfa2djnjl
October 20, 2017
Rye Patch Gold Corp.
RATING: SPECULATIVE BUY (unchanged)
PRICE TARGET: C$0.50 (unchanged)
According to Macquarie Research:
https://app.box.com/s/q54774jnrevqsfq0ry2raddwl003b213
October 15, 2017
Rye Patch Gold
Rating: Outperform
12-month target: C$ 0.50
12-month TSR %: +138.1
According to Industrial Alliance Securities:
October 30, 2017
https://www.iavaleursmobilieres.ca/research/20171030RPM.pdf
Rye Patch Gold Corp. (RPM-V)
Rating: BUY (unchanged)
Price Target: $0.70 (unchanged)
Given that Rye Patch is trading at $0.23, these targets suggest that the company has a lot of upside potential. Having an extra $6 million in the treasury is not going to hurt.