By The Gold Report
Bob Moriarty of 321 Gold provides an update on a company with a past-producing gold mine in California.
Rise Gold was the subject of a piece by me back in early 2017. Anyone interested in the company should read the piece. The purchase by the company of the Idaho-Maryland gold mine for $2 million was an extraordinary deal for Rise.
Rise just released the most interesting results. Remember, this is a former gold mine shut down in 1942 as a result of the war. At the time it was the 2nd highest-grade gold mine in the US showing a head grade of over ½ ounce gold per ton. The latest assays showed 90.4 g/t over 4.7 meters and another assay of 35.6 g/t Au over .90 meters. Historic records show the mines had reserves of 705,000 ounces of gold at a grade of about 23 g/t in 1942. The gold hasn’t gone anywhere since.
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This would be just another boring story about a former high-grade gold mine in California that some promoters are pushing in a pipe dream about going into production again except for one tiny factor. In their March 1, 2019 press release Rise reported that Yamana (YRI-T) bought an additional 10 million shares bringing their total up to 28 million shares and 14 million warrants.
Yamana is not buying shares in some pipe-dream junior with grandiose ideas about the future in the hope of making a profit on trading the shares. At some point they will make an offer. Look for it to be a lot higher than today’s price.
Rise Gold was an advertiser two years ago. They are not an advertiser today. I participated in a private placement years ago and have picked up shares in the open market. I am biased. Do your own due diligence.
Rise Gold Corp.
RISE-C$0.115 (Mar 19, 2019)
RYES OTCQB 116.1 million shares
Rise Gold website.
Bob and Barb Moriarty brought 321gold.com to the Internet almost 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.
1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Rise Gold. My company has a financial relationship with the following companies mentioned in this article: None. I determined which companies would be included in this article based on my research and understanding of the sector.
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( Companies Mentioned: RISE:CSE; RYES:OTCQB,