Rainy River Resources
NI 43-101 Resources of 3.42M oz. Au Indicated and 3.17M oz. Au Inferred (Feb. 2011)
Message: Time for Management to do something!!
In 2008 Nelson Baker realized the gross under evaluation by the market for RR share and initiated a buy-back. It's time to do the same again. We have more than enough money for the next 12 months. Buy em now and re-issue at MUCH higher prices later!!! And if they don't believe in this project Ray et all should STOP spending OUR money on this and move on or resign!
Rainy River Announces Normal Course Issuer Bid |
08/18/2008 |
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VANCOUVER, British Columbia, August 18, 2008 - The Board of Directors of Rainy River Resources Ltd. (TSX-V: RR) (the "Company") announced today that it has filed with the TSX Venture Exchange a notice of intention to make a normal course issuer bid (the "Bid") for certain of its common shares (the "Bid"). Pursuant to the Bid, the Company intends to purchase, through the facilities of the TSX Venture Exchange, up to 2,000,000 of its outstanding Common shares. The Company anticipates that the Bid will commence by August 25, 2008 and will terminate by August 25, 2009. The Company has 57,677,190 Common shares outstanding. The shares that may be purchased under the Bid represent approximately 3.74% of the Company's outstanding Common shares. The actual number of shares that may be purchased and the timing of any such purchases will be determined by the Company. Purchases pursuant to the Bid will conducted through Canaccord Capital Corporation, and the price that the Company will pay for the shares will be the market price at the time of the purchase. All shares purchased under the Bid will be cancelled. Said Rainy River President Nelson Baker, "We believe that the recent market prices of our Common shares do not properly reflect the underlying value of the Company. With our positive drilling results to date and a treasury of $34.1 million which we estimate will be more than enough fund operations for the next two years, we believe that the issuer bid is in the best interest of our shareholders. It will provide some liquidity for those shareholders who wish to dispose of their shares and enhance the potential future value of the shares which remain outstanding". The proposed Bid remains subject to the prior acceptance of the TSX Venture Exchange. Following acceptance by the TSX Venture Exchange, shareholders may obtain a copy of the completed Bid notice, without charge, by contacting the Company. On behalf of the Board of Directors of Rainy River Resources Ltd. Nelson W. Baker, President |
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