Home > Boards > Canadian > Mining/Resources > West Red Lake Gold Mines, Inc. (RLG)

Right now you're seeing this stock at obviously

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value1008 Member Level  Sunday, 11/19/17 05:24:05 PM
Re: Etailer post# 189
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Right now you're seeing this stock at obviously a very low price compared to the past 18 months--buying it might be akin to buying a call-option for a possible big later up-move....

There's a fair amount of coverage of RLG up in Canada. People in the industry are excited by the prior successful finds at Red Lake and they also respect RLG's executive chairman Thomas Meredith b/c in the past he turned a little $3M market-cap company into a great junior miner that was bought for $200M.

At the Stockhouse.com "bullboard" site for this stock (c.RLG) you'll hear of folks that got very excited during and after the run-up of mid-2016 and smaller rebound in 2017.

A lot of the public interest and a lot of the shareprice action both reflect what is going on with the price of gold. When things are boring, gold junior minors drop. Plain and simple. There's simply a dearth of Big Money animating the sector.

And so we wait.

Imo, the essential point about this little co. is that whenever they have done some more exploration and have good drill results under their belt, RLG will likely be bought out. In the meantime, they have to dilute one, two or three times yearly to raise funds for drilling and ongoing minor costs.

I'm still holding the shares i bought in 2011, thinking, perhaps naively, that maybe one day these guys will really strike a motherlode and co. will be bought out for CAD $1.00 or higher.

But when there's a good mgmt team, you have a lot more faith.



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