Rye Patch Gold Corp.
Rye Patch Gold Corp. has a producing gold mine in Nevada, and is poised for significant growth in 2017.
Corporate website: Rye Patch Gold
Rye Patch Gold has a very experienced management team (including the co-founder and President and CEO, Bill Howland, who was the general manager with Placer Dome), but that’s not the key to this investment.
The key is this:
The Florida Canyon mine in Nevada opened in 1986. In Q2 2015 a Japanese company, who owned it at the time, obtained a loan to build a new leach pad. In Q3 2015 they defaulted on the loan, Admiral Capital became the owner, and on July 28, 2016 Rye Patch purchased the mine from Admiral, so now Rye Patch owns a mine that is poised for growth.
The new leach pad is now completed, equipment refurbished, and leaching begins in December, 2016, with full commercial production expected by April 2017.
Rye Patch expects to produce 75,000 ounces of gold from Florida Canyon in 2017, with other facilities contributing more gold starting in 2018.
The key is that the market today is valuing Rye Patch as an exploration company, but in early 2017 it will become a producing mine, and that should greatly increase the share price.
FULL DISCLOSURE: I have a very small position in this company. I am not an insider. I plan to buy more on weakness.