Thats good news. What are your thoughts on Rock Creek?
RVM - Revett Minerals - Page 8
Rock Creek got delayed again over storm water runoff plans. What next ?
Really this is another very minor issue, and i note that mother nature also has no exceptional storm water runoff plans for those areas that dont have a mine planned . Rock Creek is 5 years down the road for construction and commissioning. The first few years at least will be financed by Troy mine profits and as the CEO says , they have the people already hired and working at TROY capable of doing the intial phases of work at Rock creek.
As you can see , RVM getting 0 value for Rock creek anyways, and are even undervalued just on TROY alone, using any sensible metric such as Price/ earnings... price / sales.... price/ metal in ground value.
COMPARE their results to much higher valued plays such as AUN ( earned less than half a penny per share in the last Q), or GPR ( earned .02 per share. RVM earned .23 a share
Total sales for the Q RVM had $18.8 million , AUN had 12.4 million $ and GPR had 8.6 million $
AUN market cap= $248 million and GPR valued at 407 million $$
RVM market cap ....$144 million
There are many others you could make comparisons to , but i chose these two only because their earnings also came out this week for the same Q. Neither of them has anywhere close to the metal in ground of RVM as well. In fact TROY mine alone has more in ground ( insitu value ) in reserves and meas and indicated than BOTH , AUN and GPR combined.
With Rock Creek included they would have about 6 x .
zoom zoom.. up..27%
SPOKANE VALLEY, WASHINGTON--(Marketwire - Nov. 16, 2011) - Revett Minerals Inc. (NYSE Amex:RVM) (TSX:RVM) ("Revett" or the "Company") is pleased to announce it has just received an affirmative decision from the United States Court of Appeals for the Ninth Circuit relating to the Endangered Species Act (ESA) appeal filed by the Rock Creek Alliance and other environmental groups. The Court affirmed that "the Fish and Wildlife Service's determination that the mine would entail "no adverse modification" to bull trout critical habitat and would result in "no jeopardy" to grizzly bears was not arbitrary, capricious, or in violation of the Endangered Species Act." The Company is currently reviewing the decision and its implications and will provide further updates and comments in due course.
It is the Company's understanding a copy of the court's decision will be available later today on the Ninth Circuit's web site at www.ca9.uscourts.gov/opinions.
Apparently huge news, and perhaps now RVM gets some valuation for Rock Creek. I think prior to this RVM was even undervalued just on TROY mine alone. They will earn at least .50 a share in 2011 and were trading under 4$ until the news today. Ridiculous valuation for a profitable miner , with no debt, money in the bank and 20 billion $ worth of profitable economic ore in ground.
Was a no brainer to hold this one, imo.
I still like RVM, but it is a thinly traded stock. 4.39 support held but those looks like that it will be going to test it again soon if silver still stay in a decline mode.
PS. silver had a nice run up so far , but with the money moving back into the US $ since the Greek news are not very good so far that will put some down pressure on POS and POG,
I only play this when we get a spike in Vol..base on a NR. it is a good stock but keep in mind that are others that are moving as well also. I'm holding/flipping SVM,OGC,MAI,SLX for silver play
Revett Reports Q1 2012 Operations
Monday, April 30, 2012
SPOKANE VALLEY, WASHINGTON--(Marketwire - April 30, 2012) - Revett Minerals Inc. (NYSE Amex:RVM) (TSX:RVM) is pleased to announce first quarter 2012 production results from its Troy Mine, located in northwest Montana. Currency is reported in United States dollars unless otherwise indicated.
Troy Mine Q1 2012 Operating Highlights include:
- Net cash from operations(1) for the quarter ending March 31, 2012, before capital expenditures was $7.5 million. A 135% increase over Q1 2011 net cash from operations of $3.2 million.
- Mill throughput for the first quarter was 331,523 tons processed, averaging 3,684 tpd for the period as compared to 291,690 tons (3,277 tpd) in Q1 2011. This is an improvement of approximately 12.5% over the comparable period in 2011.
- Silver production of 324,375 ounces averaging throughput grades of 1.12 oz/ton for the period. A production improvement of 32% over Q1 2011.
- Copper production of 2,249,111 pounds averaging throughput grades of .40% for the period. A production improvement of 13% over Q1 2011.
- There were no lost time accidents reported during Q1 2012. Our MSHA calculated Incidence Rate for Q1 2012 is 2.05 as compared to a national underground average for 2011 (latest available statistic) of 2.21. As at end of March 2012, it has been 400 days, and 419,030 man hours worked since our last lost time accident.
Development work continues in the north C Bed decline and production ore is expected to be accessed by August 2012. In addition, pending final state and federal agency approvals, we expect to commence I Bed development in September, 2012. Development of the I Bed mine area will take approximately two years to complete.
Production for the first quarter 2012 was approximately 8% below our previously announced guidance of 4,000 tpd primarily due to availability and retrofitting of equipment as we move towards higher bio-fuel usage and meeting revised DPM (diesel particulate matter) emission standards. Lower than planned copper grades were encountered as we advanced top slicing in the C Bed area and as a result of increased lower grade production from the South Ore Body.
Taking into consideration adjustments for seasonal factors, along with slight variations of our mine work plan, our 2012 production guidance of 1.4 million ounces of silver and 11.5 million pounds of copper remains unchanged.