Sunday, September 30, 2012
Coeur and RPM: wanna bet? (Cos funny enough you can.)
Jordan says it seems like everybody loves Rye Patch Gold right now. Everybody thinks they're guaranteed to win their fight with Coeur d'Alene. Someone at TRIC said RPM was a guaranteed triple. Both Sean Brodrick and Mickey Fulp were excited about RPM.
Just looking at the news releases as carried by Reuters, and not being a lawyer, I think the judge has a good reason to dismiss RPM's claims and revert everything to Coeur. Pedis possessio is not being used in good faith here: RPM can't seriously assert the land is theirs while they explore for resources, because we already know there are resources there. Coeur was already operating a mine. In fact, pedis possessio might actually be on Coeur's side.
But I'm not a lawyer. But that doesn't matter. The chart is the chart.
The clever little claim-stealing maneuver popped RPM as high as 80 cents.
Since then it's been all downhill. Right now it's at 57 cents. In fact I betcha that its recent pop upward from 40 cents happened only as a result of speakers voicing their excitement over RPM at whatever goldbug shows have been going on this month.
So why is RPM only trading at 57 cents? If it's guaranteed that RPM wins, RPM should be at $1.60 by now, shouldn't it? Or whatever target is the talk of the day. What's the target for RPM? A triple from here?
If you think RPM is a guaranteed triple, or double, or even just worth 80 cents, then you are implying that everyone else in the market is blind and you are not only a genius but also the only competent property lawyer in the USA. You are saying that protection of claims applies to predatory exploitation and not to an operating business. You are saying everyone else in the market is wilfully blind to a guaranteed slam dunk.
Trust me: if it were a guaranteed double, it would have doubled. If it were a guaranteed triple, it would have tripled. This isn't secret negotiation crap, this is all out in the open, documents filed in court and everything. Lawyers have looked at this. Law students have looked at this.
But I don't have to say "wanna bet?"
Cos in fact you can bet. Go buy your RPM. Buy it. It's cheap, isn't it? It's a guaranteed win, isn't it? Buy it up to 60 cents. Buy it up to 80 cents. Buy buy buy. Get a second mortgage, any loan under 5.5% is a steal. Put the wife's money in. Borrow money from your elderly family members. Hock the car. Sell a kidney. Go on. Place your bet.