Gold bears always mention Silver non-confirmation of the recent Gold Bull Run - and they are right up to the certain point. Gold performs its function as a real wealth preservation in both Inflationary and Deflationary environments. Silver, with its industrial usage in electronics, needs more conviction that the FED will win its battle against Deflation Death Spiral and Inflation will be in the headlines for years to come. It is time for us to write up on our Silver squad from our Summer 2010 Top Picks.
We will start today with Revett Minerals - one of survivors of 2008 Hedge Fund Junior Market Crash. With Revett Minerals you have a potential to bet on Silver multiplied by company's advance with Rock Creek mine permit. This story has its own history, but silver is still safely stored in the ground and any advance further in this project development will bring a very high leverage to the future Silver move in the market. When insiders are putting money into this story we have more comfort with this situation as in all our other bullish stories and Silver Wheaton investment to preserve its stake is a very good indication of its bet on this developing story. We had a very nice ride on Silver Wheaton, as you remember, it is time to test their investment skills.
"Revett Minerals is an established Silver-Copper Producer that owns and operates the producing Troy Mine and the world class development stage Rock Creek project (containing an estimated 229 million ounces of silver and 2 billion pounds of copper); both properties are located in northwestern Montana.
During the past year, significant productivity and cost improvements have been realized at the Troy Mine, where we employ over 180 men and women. We remain committed to our employees, the environment and communities in which we operate and live.
Our focus and dedication, combined with proven production at the Troy Mine and the significant potential at the Rock Creek project form the basis of our goal to become a mid-tier precious and base metals producer.
Our plan is to expand production through exploration in and around our Troy mine, through further advancement of our Rock Creek permit."
Press Release Source: Revett Minerals Inc. On Wednesday September 1, 2010, 9:56 am EDT
SPOKANE VALLEY, WASHINGTON--(Marketwire - Sept. 1, 2010) - Revett Minerals Inc. (TSX:RVM - News; OTCBB:RVMIF - News; "Revett" or the "Company) is pleased to announce that Silver Wheaton has subscribed for additional shares to maintain its shareholdings at 16.4% of issued and outstanding shares in Revett.
This transaction is in connection with a non-brokered private placement that Revett Minerals closed on August 24, 2010 for 12,094,368 units. The Silver Wheaton subscription is for 2,448,358 units and carries the same terms as the August 24, 2010 private placement at a price of CDN$0.28 per unit. Each unit consisted of one common share and one half of a common share purchase warrant, each whole warrant entitling the holder to acquire an additional common share at a price of CDN$0.35 per share for a 36 month period. This pricing is in accordance with the participation rights agreement between Revett and Silver Wheaton.
John Shanahan, President & CEO stated, "We welcome Silver Wheaton's ongoing support as an important and strategic shareholder. This subscription will support our efforts to accelerate exploration at the Troy Mine through the remainder of 2010 and into 2011 as we continue our focus on advancing the Rock Creek project."
Revett Minerals, through its subsidiaries, owns and operates the currently producing Troy Mine in Lincoln County, Montana and development-stage Rock Creek Project located in Sanders County, Montana, USA. The proven reserves at the Troy Mine and significant resources at the Rock Creek project will form the basis of our plan to become a solid mid-tier base and precious metals producer. Revett plans on expanding production through exploration in and around its current properties, as well as through targeted business combinations of advanced stage projects.
John Shanahan, President & CEO
2010-08-24 17:57 ET - News Release
Mr. Ranjan Tandon reports
FUNDS MANAGED BY LIBRA ADVISORS, LLC ACQUIRE SUBSRIPTION RECEIPTS OF REVETT MINERALS INC. FOR INVESTMENT PURPOSES
Libra Fund, LP and Libra Offshore Master Fund, LP have acquired 10,714,268 units of Revett Minerals Inc. at a price of 28 cents per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share in the capital of Revett at a price of 35 cents for a period of 36 months following the closing date.
As a result of the acquisition, the funds now hold 10,714,268 common shares representing approximately 7.5 per cent of the outstanding common shares of Revett, and 5,357,134 warrants of Revett that, if exercised, would result in the funds holding approximately 10.8 per cent of the outstanding common shares of Revett.
The funds acquired the common shares and warrants for investment purposes and may, from time to time, acquire additional securities of Revett or dispose of such securities as they may deem appropriate."
2010-08-24 15:05 ET - News Release
Mr. John Shanahan reports
REVETT CLOSES $3.4 MILLION PRIVATE PLACEMENT FOR TROY MINE EXPLORATION AND DEVELOPMENT
Revett Minerals Inc. has closed a non-brokered private placement of its shares to accelerate continuing exploration and development at the Troy mine. The private placement consisted of the sale of 12,094,368 equity units at a price of 28 cents per unit for gross proceeds to the company of $3,386,423.
Each unit consists of one common share and one-half of a common share purchase warrant, each whole warrant entitling the holder to acquire an additional common share at a price of 35 cents per share for a 36-month period.
In connection with $386,426 of the private placement, the company has paid a finder's fee of 6 per cent and issued 41,403 warrants exercisable at 35 cents for a period of 36 months.
Proceeds from this private placement will be used for continuing exploration and development at the Troy mine, in particular, acceleration of the exploration of the extensive land position in the immediate mine area and for general working capital purposes.
John Shanahan, president and chief executive officer, stated: "We are pleased to announce this placement and are eager to accelerate our exploration efforts at Troy, which will hopefully culminate in a significant extension in the life of the Troy mine. We remain mindful of the extensive and valuable infrastructure at the Troy mine and are focused on realizing its full potential."
We seek Safe Harbor."