Ben Kramer-Miller
Gold & precious metals, macro, research analyst, deep value

TrueGold Is Fully Financed And Has 44% Upside From Here

(Editor's Note: Investors should be mindful of the risks of transacting in illiquid securities such as RVREF. True Gold Mining's listing in Canada, TGM.V, offers stronger liquidity.)

An Overview of TrueGold Mining

TrueGold Mining (OTCQX:RVREF) is a junior mining company that has just begun to develop its flagship Karma Project in Burkina Faso. This project is estimated to be incredibly efficient with estimated production costs well below the current gold price. Nevertheless the company's stock has underperformed the rest of the sector recently as management has been issuing stock in order to finance the estimated $131 million construction expense. In fact the share count has more than doubled over the past year.

Still, as the following chart of...

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