Tuesday, October 16, 2007

http://stockcharts.com/h-sc/ui?s=rvs.v

Symbol: RVS.V,   RVREF.PK
Recent Price: C$0.285
Shares O/S: 40 M
Market Cap. : C$11.5 M
52 Week Range: $0.20 - $0.445
Entry Price: $0.28

Company Contact Info: http://www.goldmau.com/rvs.php

Riverstone announced the acquisition of Goulagou from Golden Star today:

http://biz.yahoo.com/ccn/071011/200710110418280001.html?.v=1

I spoke with Jim Robertson for 15 minutes this afternoon. $18 million was spent on 50,000+meter drilling before.   This is a terrific deal as RVS manages to tie up a property that already has a 43-101 resource of 500,000 oz’s for 4 years by spending $4 million and issuing  2 million shares.  After 4 years, RVS can choose to pay $18 million for the property in cash or in RVS shares. $18 million is also the amount spent on the property through 50,000 meter drilling by previous operators.
RVS’ existing Rambo and Kao properties are just 3-4 km to the east. One can now see the possibility of a combined (Goulagou, Rambo, Kao) suite of claims that achieve the magic 1 million oz Au mark. With just 40 million shares outstanding, RVS is a bargain.

You can watch the interview I did with Mr. McInnis (CEO) in September at:
http://goldmau.com/archives.php

Technically, the stock bottomed at 27 cents, traded 230,000 shares on Thursday and looks now ready to break out of the consolidation to test a 2 year high of 47 cents.