Rye Patch Gold Corp. (fka RPMGF)

[gharma]

RPM now significantly undervalued.
Down a further 10.5% on Toronto exchange today, following yesterday when RPM was one of the exchange's most active in its major fall.
At the moment PRM's asset portfolio are being valued at approximately zero, as the market cap now is $24.88 million, with the settlement providing $10 million cash and a royalty (expected to pay out over 4 years starting Jan 1, 2014) of 3.4% of 39.4 million silver equivalent ounces which is the value over that time of 1.3396 million ounces of silver. So assuming that value over time is at least $11 per ounce RPM at the moment has a market cap of (less than the value of) the settlement.
For a company with its own assets, with resource estimates, with a now strong treasury, with a JV with a major and a mid-tier, and with a royalty stream to monetize one and a third million ounces of silver over the four years starting a half year from now this appears to be a firesale at present.