Dallas, Texas 09/30/2015 (Financialstrend) – Allied Nevada (OTCMKTS:ANVGQ), Rye Patch Gold (OTCMKTS:RPMGF, CVE:RPM) and Walker Lane Exploration (OTCMKTS:WKLN) are all gold exploration companies, yet Rye Patch is at a disadvantage over Walker Lane Exploration and Allied Nevada – it’s dually listed in Canada where the investment banking community is in its fourth year of financial draught.
Allied Nevada (OTCMKTS: ANVGQ) has watched its shares tumble from a 52-week hi of $3.54 to a near 52-week low of $0.045 at the close of trading Monday, Sept 28, 2015. Rye Patch Gold (OTCMKTS: RPMGF, CVE: RPM) faired better, though its shares had reached a 52-week hi of $0.016 to trade at $0.095 Monday at the close. Walker Lane Exploration (OTCMKTS: WKLN) had seen its shares reach a 52-week hi of $1.95, while at the close of trading Monday Sept 28, 2015 its shares were up $0.02, or 3%, to finish the trading day on the OTC Markets at $0.62.
Rye Patch managed to wrangle a royalty out of Coeur Mining (CDE) yet the mining company continues to fight over what’s due them.
Allied Nevada, the darling came late to church, mining company gave into pressure from Waterton, which appears to be in the business of taking over properties through financing, sold 75 of its mining properties in Nevada to a wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP. The Fund is cash-heavy and looking for ground, whether through outright purchase or foreclosure from its own financing. None the less, Allied Nevada’s shares have fallen from grace and while in bankruptcy, it sold out the only assets it had a chance of recovering. Still, you can always hope, can’t you?
Walker Lane Exploration, the Carson City-based exploration company, has been quiet since June when it announced the results of a sampling program conducted on its Pyramid property located just north of Reno. Founding geologist, Steven Jones, recently resigned as vice president of geology and Chief Executive Officer, implying that a new management team would be stepping in to lead the company into the new year. With the 10-K filing due at the end of October, investors appear to believe new management is just what is needed as WKLN shares have been on the rise since last week, though trading volume remains thin.
