Royal Nickel Corp. RNKLF

the facts

[christopher11]

Lot of whining for a shareholder that has no idea of what's really going on. First Selby (not Shelby) was left a stinking pile of dodo when former management scurried off the boat like rats after looking at the dismal feasibility study for Dumont. so here is a guy who picked up the pieces so all you whiners didn't get a big fat 0 in your brokerage account. No one on the street will put another dime into Dumont its a liability not an asset. with a carrying cost in excess of $4M per year (see note 9 to F/S) The metric's on the Feasibility are $4+/lb op cost $1B+ cap ex and NI at $4 definitely not bankable . No one is lining up to finance this project for at least another decade probably two. Need SUSTAINED long term NI north of $8 for a bunch of years before this is even a remote possibility. Why do you think all the majors took a great big PASS on a project of this magnitude? and yes they all looked at it. So please everyone check out the facts and stop being in love with this project it has no current value. So now what do you do when your main project is a big pile of dodo? You better go find some new projects fast or shut the doors and turn off the lights because there is no more money coming from the street for Dumont. Well that's exactly what Selby did scrambled and worked like heck found a copper asset that is cash flow positive and doesn't use up a bunch of his and teams time. Bought some gold /nickel assets that could be really exciting, fired almost all former managements dead wood that got them in this mess in the first place and brought down the ridiculous burn rate, brought in competent people and started building a real company. Now ramping up to bigger production numbers. Sold off 1/2 the Dummont disaster with a current Nil NPV and a negative IRR for some real cash - now that was impressive Hmmm sounds like a pretty solid business plan to me. Have there been hick ups - for sure, poor start up at Beta Hunt, undercapitalized to do all the mine development necessary and probably a few more glitches as well. find me a junior that hasn't had hick ups on a new start ups especially when fighting such legacy issues as this mess. This thing needs about two to three more months of development to get all sorted out and if they make that then we will see huge increases in tonnage driving down per ounce costs and good gold ounces produced. At the same time they have sorted out NI costing at Beta and there is money to be made mining NI as well. You have no idea how close you were to a big fat 0 in your investment portfolio. you should be sending Selby bonbons.