Here are the facts on what these reserves and rights are worth - perhaps a little more or whatever, but unless you think the sellers of these rights gave away $100 million, then the value of RVNG stock is a lot closer to 0 than to today's price.
I estimate a total value of assets under $2 million. Market value of company in stock market is over $100 million. Does that make sense to any unbiased, intelligent investor?
How much would you pay to buy the whole company - $100 million or $2 million?
La Currita - $500,000
On August 23, 2006 the Company entered into an agreement with Tara Gold Resources Corp., for the La Currita Property, which was effective as of May 30, 2006. According to the agreement the Company was to make payments of $50,000 on the 25th day of each month commencing June 2006 and ending April 2007.... the Company issued and delivered to Tara Gold Resources Corp. 250,000 restricted shares of common stock.
Las Minitas - $600,000
On August 23, 2006 the Company also entered into an agreement with Tara Gold Resources Corp., for the Las Minitas Property, which was effective as of June 1, 2006. According to the agreement the Company was to make payments of $75,000 on the date of the agreement, $225,000 by August 1, 2006, and a final payment of $300,000 was to be made November 1, 2006. Furthermore, according to the agreement on October 26, 2006, the Company issued and delivered to Tara Gold Resources Corp. 250,000 restricted shares of common stock.
Big Mike - $3000
On April 26, 2005, the Company acquired the mining rights to two claims collectively known as the Big Mike Border Gold property located in the Skeena Mining District of British Columbia, Canada, for a purchase price of $3,000.
Oh, by the way, the company has missed scheduled payments owing on these transactions...... oops!
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