A Very Special Update! – Tue 11 Jul, 2017

Rye Patch Gold reports production results.

RYE PATCH REPORTS JUNE GOLD PRODUCTION
Florida Canyon Mine On-Track for Q3
Vancouver, British Columbia, July 10, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports June and second quarter production results for the Florida Canyon mining operation.
Gold production began from the new South Heap Leach Pad of the Florida Canyon Mine in April 2017. The new pad has completed its first full cycle of leaching of 45 days.  Secondary leaching and new placement of ore is continuing on the Phase 1A portion of the pad.  Since April, a total of 12,678 ounces of gold and silver dore have been poured.  The dore is comprised of 7,075 ounces of gold and 5,603 ounces of silver.
William Howald, Rye Patch President and CEO, said, “We continue to successfully ramp-up mine operations, and the team is pleased with progress through the end of the second quarter.  Gold production in the second quarter exceeded the ramp-up plan by more than 1,500 ounces of gold and the mine is on track for third quarter 2017 commercial production.”
Welsh-Hagen Associates of Reno, Nevada completed an audit of the leach pad, and compared its operational performance to the expected leach recovery model.  Based on the audit, the new leach pad is performing in line with the leach curve model and recovered gold ounces are within 1 percent of the projected gold production.  Production of 5,567 ounces of gold was projected for the first three months of leaching compared to 7,075 ounces of gold actually achieved between April 12 and June 30.  The better-than-expected gold production results from more tons being placed on the leach pad between January and March.
See the entire release here
On behalf of the Board of Directors
‘William Howald’
Rye Patch Gold Corp
William C. (Bill) Howald, CEO & President
info@ryepatchgold.com
Tel.: (604) 638-1588
RYE PATCH GOLD CORP.
HEAD OFFICE & INVESTOR RELATIONS

1500-701 West Georgia
Vancouver, BC V7Y 1C5
Canada
Tel: (604) 638-1588
RYE PATCH GOLD US INC.
RYE PATCH MINING US INC.

Suite 9 – 220 South Rock Blvd.
Reno, Nevada
USA 89502
Tel: (775) 856-4900

Featuring:
Bill Howald

Comments:
  1. On July 11, 2017 at 2:10 pm,
    Imtiaz says:

    There is a lot of positives with the progress to commercial gold production in Q3 such as the production numbers exceeding the ramp-up plan, the crusher outperforming design specifications and hauling availability; so something must have the market spooked since we are sitting at new 52 week lows in this exciting time for the company’s growth.

    I believe the market is concerned about the cash burn because when this initiative was announced the credit line and initial raising of equity was to be sufficient to get the mine up and running to commercial production factoring in the royalty; where there has been a long list of issues: Delays, mechanical issues so quickly into production, and pushing out of commercial production timeline. These issues are burning up cash which is evident through observations of the sell back of the royalty and the additional generation of cash via the bought deal.

    It just goes to show that it is not easy investing in new ventures as most of the time new ventures need to continue to generate cash where the initial investors always get burned through dilutions. What is the benefit to initially investing in new ventures who are first prospecting working towards production since they would need a huge cash infusion that would not benefit initial investors as it looks to be the case here?

    Thoughts?

    • On July 11, 2017 at 5:35 pm,
      Excelsior says:

      Agreed.

  2. On July 12, 2017 at 10:39 am,
    al korelin says:

    The Company will shortly respond to this directly.