Rye Patch Receives $1,850,000 Quarterly Royalty Payment
Vancouver, British Columbia, April 16, 2015 - Rye Patch Gold Corp (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the Company or Rye Patch) announces that it has received its first quarterly royalty payment for 2015 of CDN $1,850,000 (USD $1,480,000) from its Net Smelter Return royalty on the Rochester mine owned by Coeur Mining, Inc., located in the State of Nevada.
This is a significant improvement on the CDN $531,342 (USD $483,900) received in the corresponding period last year. The total amount received in 2014, the first year of the royalty, was CDN $4,137,000 (USD $3,747,000).
Tony Wood, the Company's Chief Financial Officer, stated, "This royalty provides a valuable, non-dilutive, source of funding for the Companys activities. The bulk of the proceeds are directed to our lowest risk development project, Lincoln Hill, which is being advanced under the direction of our Nevada project team. A small portion is allocated to our Cortez exploration projects where the potential prize is worthy of pursuit."
Quelle: www.ryepatchgold.com/news/index.php?&content_id=249