Revett Minerals (RVMID) Receives AMEX Approval!

http://finance.yahoo.com/news/Revett-Minerals-Approved-for-iw-4129780908.html?x=0&.v=1

SPOKANE VALLEY, WASHINGTON–(Marketwire – 05/04/11) – Revett Minerals Inc. (TSX:RVMNews) (OTC.BB:RVMIDNews) (“Revett” or the “Company”) has been authorized to list its common shares on the NYSE Amex. The Company expects the shares to begin trading on the NYSE Amex on Monday May 9th, 2011, under the trading symbol “RVM”. The Company will retain its current listing on the Toronto Stock Exchange under the trading symbol RVM:TSX.

We are pleased to welcome Revett Minerals to the NYSE Euronext family of listed companies,” said Scott Cutler, EVP and Co-Head of U.S. Listings and Cash Execution, NYSE Euronext. “Revett Minerals and its shareholders will benefit from the superior market quality, services and technology provided by NYSE Amex. We look forward to a great partnership.”

John Shanahan, President and Chief Executive Officer stated “This is the culmination and fitting recognition of many years of hard work to get Revett to where it is today. As a US based producer of silver and copper, and with the potential of becoming one of the largest silver producers in North America, it is appropriate that we are listed on the NYSE Amex with full exposure to the US capital markets”.

I’m a day late posting and I’m sure most of you have already heard but I wanted to re-post this as I have talked about Revett several times on this blog. I did take profits on the 25th but at $4.65 I am tempted to average back into a position. Certainly RVMID could go back to $4 on momentum if silver takes longer to recover but even at $30 silver, Revett is hardly fair-valued at $4/share. I said a few months ago when Revett was trading at the same price that it is now that they would be pushing $5-$6/share and that was when silver had just touched $28/oz. With Rock Creek on schedule, silver staying above $30 and the AMEX uplisting approved, Revett will be much higher than $6/share when silver recovers from this correction.

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About Aaron Basile
Market Technician, Equity/Commodity Trader, Austrian Economist, Contrarian Investor

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