Rye Patch Gold (RPM-V) receives $1,462,300 quarterly royalty payment
Oct 29, '15 - NR
Rye Patch Gold Oct 29, '15 announces that it has received its third quarterly royalty payment for 2015 of CDN$1,462,300 (USD$1,125,340) from its Net Smelter Return royalty on the Rochester mine located along the Oreana trend in Pershing County, Nevada.
Since the beginning of 2015, the Company has received CDN$4,802,300 in royalty payments -- CDN$1,850,000 in Q1 plus CDN$1,490,000 in Q2 plus CDN$1,462,300 in Q3 – compared to a total of CDN$4,137,000 received in 2014.
In addition, the Company is pleased to announce that for the period ended September 30, 2015, the Company purchased and cancelled a total of 1,869,000 common shares under its previously announced Normal Course Issuer Bid ("NCIB" or "Share Buy Back").
As announced on April 29, 2015, Rye Patch may, by allocating up to a maximum of 10% of its quarterly royalty income, commence making purchases of up to a maximum of 7,300,000 common shares, which represents approximately 5% of the Company's 146,446,746 issued and outstanding common shares as at May 1, 2015.
About Rye Patch Gold Corp.
Rye Patch Gold Corp. is a Tier 1, well-funded junior mining company led by a seasoned management team that has participated in major discoveries totaling over 100-million ounces of gold. The team is engaged in the acquisition, exploration and development of quality resource-based gold and silver projects along the emerging Oreana trend and the prolific Cortez trend. Benefitting from its strong financial position, the Company's strategy is to balance development and exploration risk, creating value by:
Advancing the Lincoln Hill project toward production; Pursuing a world class discovery - Garden Gate and Patty - contiguous to and on strike with Barrick's Goldrush deposit; and Seeking new project opportunities and accretive transactions.
The Company's cash and cash flowing royalty allow for progress without dilution to shareholders. For more information about the Company, please visit our website at www.ryepatchgold.com.
On behalf of the Board of Directors
'William Howald'
William C. (Bill) Howald, CEO & President |
