On Sunday we presented Part 1 of our audio interview with Peter Bernier, President and CEO of Richfield Ventures (RVC, TSX-V). Today we’re pleased to present the balance of that conversation – Part 2. As of 11:45 am Pacific time, Richfield is at $1.55 – up 2 pennies on the day – and in a strong area of technical support on the charts.
Gold discoveries in British Columbia are nothing new – this province is blessed with abundant resources of all types – but what’s happening at Richfield Ventures‘ Blackwater Project 150 kilometres southwest of Prince George is highly significant and stirring an immense amount of interest. We saw this coming back in December which is why we added Richfield to the BMR Portfolio at $1.20. It roared to a 52-week high of $2.25 last month but the recent market weakness has pulled it back into a very strong area of support between $1.50 and $1.70, presenting a great opportunity for investors to either add to current positions or enter for the first time.
Richfield is following up a very successful 18-hole program last fall with a 25,000 metre drill program that started last month. The potential for at least five million ounces at Blackwater is very real – one only has to take a quick look at the intersections below to realize that a world class bulk tonnage deposit is the making here:
455 metres 1.03 g/t Au 4.30 g/t Ag
207 metres 1.06 g/t Au 5.00 g/t Ag
148 metres 1.26 g/t Au 5.04 g/t Ag
133 metres 1.02 g/t Au 8.20 g/t Ag
Richfield’s President and CEO is Peter Bernier who leads a highly qualified and focused team that BullMarketRun expects will make Blackwater a huge exploration success and the company a strong takeover candidate. Richfield’s market cap of only $42 million (27 million o/s x $1.55) is perhaps only 15% of a potential takeover price, so despite the stock’s climb from just pennies a share last year there’s still a lot of room for investors to profit handsomely if drilling continues to produce favorable results.
“I don’t think people quite understand the size of this deposit and the mineralization we’re getting at depth.” – Bernier.
Below is Part 2 of our interview with Richfield’s President and CEO:
BMR Interview With Peter Bernier (Part 2)
While Richfield is certainly a highly speculative stock (that’s what we focus on here at BMR), the company’s results to date have been remarkably consistent and have correlated extremely well with historical work on the Blackwater properties. We view the risk-reward ratio at this particular time, therefore, to be highly attractive. The blue sky potential with this stock is immense, especially given the current takeover environment and Gold’s move to record highs.
