Several years ago you discussed RUP for me. What do you think now? I'm hoping due to its location that it might be taken out by Goldcorp.
The best that I can tell you about Rupert Resources Ltd. at this point in time is that management is maintaining its land positions but not advancing them due to a number of factors.
RUP has been hit by the same factors that have sideswiped the junior exploration sector, including a lack of financing to drive drilling and, by consequence, resource development. If you want information on what is happening at RUP, you have to go to SEDAR, given that there have been few updates on their website.
The latest report filed in October of 2009, indicated that the company had $1,500 in cash and there was no signs that there were any new financings in the works.
Another factor to keep in mind is that the drilling activity conducted on the Gold Centre property that is adjacent to Goldcorp's Red Lake mine from 2004 to 2008 encountered no significant gold values.
The three year chart provides a view of the rally off the bottom in late 2008 and the subsequent flattening out of the advance. The advance has been on thin volume with only 200 shares trading on December 9th and average daily volume over the last 3 months of only 17,830 shares.
The three month chart provides a good view of the thin trading in the stock.
There may be some value in the properties that RUP controls, but until a drill program can scare up some indication that there is gold in them thar hills, I think you have a classic case of a company that has gone as far as possible with what they have been given. There maybe an interested buyer for some of the company's assets but there is nothing in the data stream to confirm that.
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