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Sprott bought 1,000,000 shares @.554 on 11/15
http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1dv8e01-rnx-sedi04.png
RNC Minerals, the latest article/update:
by @Mikeymike426 on November 19, 2018
RNC: The Hunt For Answers
Just a few months ago, RNC Minerals was struggling to get Dumont going, diminishing positions they held in joint ventures while Beta-Hunt was for sale. Then one day, everything changed... CEO, Mark Selby found himself front and center of what may be the most prolific gold discovery of the last Century. With all the excitement and the prospects of bigger things to come, RNC revealed to the world what they had found - quickly becoming the talk of the town, and captivating people's imagination.
In the beginning, they could do no wrong. Every news release got people more and more excited and very quickly, their phones were ringing off the hook. The share price skyrocketed and it seemed like nothing could slow RNC down. With questions mounting, it was inevitable that clerical errors would arise especially when you consider the tremendous pressure of the transition from Q3 to Q4. This transition period proved to be a challenge for the company as they tried to articulate the ongoing activities at the mine.
My work experience put me in a unique position to be able to dissect the ongoing activities at the mine through analyzing pictures. Being a hard rock miner allowed me to ask the right questions and thereby get the right answers and relay the information to people through means of social media. In some ways, I can relate to Mr. Selby, in that I too have faced a lot of pressure in my attempts to educate people about mining processes and procedures. I never expected to be in today’s position, where I may have the opportunity to go to the Beta Hunt mine to meet the men at the forefront of this discovery.
I sympathize with RNC, as I’ve come to realize that it is next to near impossible to keep everyone happy. Only so much can be done to clarify the ongoing activities at the mine. While I am not employed by RNC, there are many who rely on my experience and my due diligence for the answers they seek. Given that the last few news releases have been somewhat confusing, I set out on a mission to get some clarification on particular matters and the company was kind enough to respond in a very professional and articulated manner.
I will now share my findings through this article to help people better understand the position of the company.
I have made the company aware of my intention to go to Australia and they will consider hosting a visit to Beta Hunt for analysts and investors in the New Year. They cannot be more definitive on this matter at this time, but will do what they can to accommodate my request. I will be travelling to Toronto to meet with them later this month to discuss options moving forward and I am very grateful for their proactive approach to the situation.
Initially, RNC had publicly announced that they were exploring the possibility of listing on the ASX, which I'm sure most will agree could add potential value to the company by tightening the float and adding to the already expanding base of shareholders. The company’s response to this was "The item was discussed at the most recent board meeting last and remains under consideration. We will make an announcement if the determination is made to proceed. Expect that we'll make this determination by year-end if not sooner." As a shareholder myself, I look forward to the company's decision on the matter and hope that our friends in Australia can more easily partake in the success of the company moving forward. RNC has ensured me that they are always looking at ways to maximize shareholder value.
Concerning the drilling program, I was told, "A drilling update with more specifics will be released in the short-term. The drills are/will be targeting the A Zone and The Western Flanks. The Fletcher Zone is not part of the near-term drilling plan." Being that The Fletcher zone is not as close to the infrastructure of the mine, this is understandable. As far as when we can expect drill results, the answer was as expected: "We expect initial results from the drilling program to be available in December and we are targeting Q2 2019 for an updated resource estimate." With an expected four drills working on the property by year’s end, I think this is a conservative estimate and look forward to the results. The previous drilling done on the property already indicates that the resource should expand as they develop the model, yet there are no immediate plans to ramp up production until the resource estimates are completed. Most junior mining companies never find themselves in the position to drill as aggressively without the need for funding - so the future of RNC in this regard is exciting.
I also asked for clarification on the total number of ounces that have been mined form the initial Father’s Day Vein. "As of October 31, there have been a total of 25,355 ounces (this includes the 8,506 ounces of coarse gold)." November's totals have not been factored in as of yet, but we can expect the total number of ounces to grow and the company will update shareholders accordingly. Management realizes that the clarity of the numbers has been an issue and are taking our concerns very seriously moving forward. In the short term, they plan to release more pictures of the progress, but how, when, and where are to be determined.
RNC is aware that shareholders have been left scratching their heads at times while reading the last few news releases and when I asked about a PR company being utilized, they responded, "We hear you. Disclosure in these circumstances is not simple. This was a very rare discovery. Estimating the gold content for high grade coarse gold is very difficult. We need to be very careful as to not mislead the market. As a kicker, each of the company's operations in Q3 required a change in its accounting treatment (e.g., Beta Hunt was reclassified from prior "discontinued operations" treatment), which made the quarter and related disclosure more complicated. We provided a more detailed October production breakdown last week in response to investor feedback, and going-forward will be happy to incorporate specific constructive feedback into our releases."
Some of our American friends made a point to me that the news flow on the OTC did not seem to be up to speed with the TSX listing. So I asked if anything could be done to correct this, to which they responded: "All RNC news is disseminated on the OTCQX website at the same time it crosses the news wire through the Cision wire service facilities ( http://www.otc markets.com/stock/RNKLF/news ) . OTCQX receives the same wire feed. All news is also available through sign-up link on the RNC Minerals website."
Overall I am very pleased with the responses that I have received from the company and admire their willingness to engage with the shareholders. I have always maintained a positive outlook on RNC and I stand by that today more than ever. With a bit of patience and tempered expectations RNC is in a position to be very successful. With any luck, I will have the opportunity to sit down with Kevin Small and have a good discussion with him. I would absolutely love to meet the man from Northern Ontario, who is from what I can gather, responsible for the Fathers Day Vein Discovery. This will be his legacy and I would love to be the one to re-tell his story about how he came to be a part of RNC and this world-class event at the Beta Hunt mine.
As opposed to stockhouse, yahoo finance and CEO.CA yes, this board has not yet been infected by the "childish RNC posting" volume the others now have, and don't call me shirley.
Have read everything you and credible others have posted, shorts must be loving this, all in @US.64, am currently down pretty heavy, regrettably no dry powder to average down at this seemingly insane low price, never saw this coming. Am still very bullish on the find, upcoming drill results and company financial health notwithstanding management, what is your latest assessment? Since all the other message boards except maybe CEO.CA seem to now, be the equivalent of a soap opera, lets covertly start posting here....
Speaking of airplanes, check out this companies Vintage Warbird Inventory. If I was a multi-millionaire, I would buy that P-51 Mustang with all those spare parts including 20 Rolls Royce Merlin engines and begin my new livelihood!
http://www.platinumfighters.com/
Start reading message boards on stockhouse.com, yahoo finance, CEO.CA and stocktwits, there is a wealth of good information as well as garbage to sift through to come up with your answer.
I believe the shorts are in control and weak hands don't do any DD on fundamentals, they only look at charts, set tight stop losses and are easily panicked into selling, all this is playing right into the shorts game plan to get the pps as low as possible before covering.
Your absolutely right...just like corrupt politicians, bankers wall street and corporate heads, no indictments, no criminal charges, no jail time except for the plebs. Rule of law does not apply to these criminals, its clearly a two tier legal system, its maddening as hell and its going to lead to civil war! If our leaders won't follow the rule of law, why the hell should we!
That was the production results...how many time does this have to be repeated.
Come on now, you have to reference your videos to mining or metals, there are way too many "chick videos" out there to just post them one after the next with no context, that would dilute the site.
This years girl...www.rncminerals.com ,no tatoos , colored hair or piercings, ahhhh
Found that diagram source, why hasn't this diagram been included in the last couple presentations, seems pretty relevant: April 4,2016 PR:
http://www.rncminerals.com/2016-04-04-Royal-Nickel-Corporation-Beta-Hunt-Hand-of-Faith-Zone-Delivers-High-Grade-Gold-Mining-Commences-in-Area-with-Drill-Intercept-of-1000-g-t-gold#assets_all
Geo, mikeymike426 posted this drilling diagram on CEO.CA, when was this drilling done and what is the source of the diagram, all I can locate is the one showing lower grades, thanks.
http://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1dsadti-0EA32904-DDF4-45B4-AC1B-9AC172D6F1BE.jpeg
Good read, you put a LOT of effort into that, nice job Geo, I've been following you, mikeymike426, seaofsand and others on CEO.CA and Stockhouse. I've been rotating out of SLOW moving GSS with some profit and after a ton of DD, been loading up on RNKLF shares. After taking an initial position @.29, I now have 6 times that position at an average of .65, I'm not going to be left in the dust on this one!
I'm enjoying watching it melt up!
The Cork summed this up a year or so back: The miners need cash infusions during the down times, guess where they get that cash to survive from...the big banks, best explanation of their complicity that I have heard.
Keep in mind the parent company RNX.TO trades on the major Toronto TSX exchange, RNKLF will follow RNX.TO at the current exchange rate of 78%, this makes it less risky than your typical stand alone OTC stock.
RNC Minerals RNX.TO RNKLF knocks it out of the park again!
http://www.stockhouse.com/news/press-releases/2018/10/02/rnc-provides-father-s-day-vein-high-grade-gold-discovery-update
WOW! Minimum of 30-35,000 oz to be recovered from initial development area!
Wonder how low the AISC will be, probably one truck load.
NEWS OUT! Get ready to fly boys, good luck trying to sleep tonight!
http://www.stockhouse.com/news/press-releases/2018/10/02/rnc-provides-father-s-day-vein-high-grade-gold-discovery-update
RNC Minerals World Record Nuggets Unearthed.
Re-post of "Aurion Nails Source of Golden Boulders" video. First 13 minutes:
Today's sell off put into context S/A:
https://seekingalpha.com/instablog/1107010-edward-vranic-cfa/5216694-continue-hold-royal-nickel-volatility
Looks like strong support around .64
RNX.TO / RNKLF up another 100% today on this news, WOW!
http://www.rncminerals.com/2018-09-24-High-Grade-Gold-Structures-Extended-by-200-meters-From-Fathers-Day-Vein-Discovery
Another 100% day, the gift that keeps on giving!
None, blew through all very old resistances in high .60's...record high territory!
Doubled my position again today, normally averaging up is a bad thing, but this is very unusual situation here!
I see it all the time with many great stocks over the years, sheeple syndrome I guess.
Doubled my position today.
RNX.TO / RNKLF The gift that keeps on giving!
http://www.stockhouse.com/news/press-releases/2018/09/20/father-s-day-vein-yields-24-000-ounces-of-gold-worth-38-million
Just me...greatly appreciate the tip last week! As the old saying goes..."you can lead a horse to water, but you can't always make him drink"
It looks like you may have some catching up to do, next couple weeks will be pivotal.
http://www.gsr.com/investors/news/news-details/2018/Golden-Star-Announces-Long-Term-Strategic-Investment-by-La-Mancha/default.aspx
http://s1.q4cdn.com/789791377/files/doc_downloads/2018/08/PRINT_M_Golden-Star-Circular_48pp_v2.pdf
https://finance.yahoo.com/quote/GSS/community?p=GSS
Exited years ago @ around .07, learned my lesson with explorers, no matter who owns/runs them, since then have only invested in producers with revenue.
Hundreds of Roman gold coins found in basement of old theater
https://edition.cnn.com/style/article/roman-gold-coins-italy-cressoni-theater-trnd/index.html
Sounds like you move around a lot more than I do and I'll look into those. Me, having limited understanding of the detailed financials such as yourself. I like to focus equally on the other half of the equation being management, properties, country risk, mine life, grade, exploration, etc. so I would think things could easily balance out with weaker book value.
Geo, serious question; being that I value your opinion as well as recalling your past enthusiasm for GSS...would you exit a modestly positive position in GSS right before a $126M for 30% share# @.77 + 1:5 R/S goes into effect in 2 weeks? PPS has held firm so far @.72 since announcement a few weeks ago...
They are sitting on some nice high grade underground deposits; low AISC, 2 mills/mines with capacities currently running at just 60% and already producing 267,000 oz/yr.
Hello Geo, its been awhile...saw you posts about this on "Mining & Metals" board a couple days ago, did a little DD and bought a 15k speculative position, up about 50% now, looks like profit taking today and awaiting more news. Still heavy into GSS, waiting for $126M La Mancha deal and 5:1 consolidation to close next week or so. Must be some stellar news on the way as well for La Mancha to step up with that kind of cash at a 14% pps premium with no stake in any of GSS's assets.
So how does this get resolved outside of bankruptcy?
Dated 8/7/18
NOTE 3 – GOING CONCERN
The accompanying financial statements have been prepared assuming that the Company will continue as a
going concern, which contemplates continuity of operations, realization of assets, and liquidation of
liabilities in the normal course of business.
As reflected in the accompanying financial statements, the Company had an accumulated deficit at June 30,
2018 of $19,024,891 and its liabilities exceeded its assets. These factors among others raise substantial doubt
about the Company’s ability to continue as a going concern.
While the Company is attempting to commence operations and generate revenues, the Company’s cash
position may not be significant enough to support the Company’s daily operations. Management intends to
raise additional funds by way of a public or private offering. Management believes that the actions presently
being taken to further implement its business plan and generate revenues provide the opportunity for the
Company to continue as a going concern. While the Company believes in the viability of its strategy to
generate revenues and in its ability to raise additional funds, there can be no assurances to that effect. The
ability of the Company to continue as a going concern is dependent upon the Company’s ability to further
implement its business plan and generate revenues.
The financial statements do not include any adjustments that might be necessary if the Company is unable to
continue as a going concern.
https://backend.otcmarkets.com/otcapi/company/financial-report/199087/content