GREY:RNKLF - Post by User
Post by
TradeLong77on Feb 19, 2019 5:27pm
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Post# 29384920
Today's Gold Investment Letter Trading Alert
Today's Gold Investment Letter Trading Alert RNC Minerals
Below is the initial alert I put out on RNC Minerals (RNX/RNKLF) 2 weeks ago at 66 cents CDN. I am raising my buy up to price to 75 cents Canadian from 70 cents. We're up about 10%, but I'm looking for an asymmetrical move into the low to mid $1's on this trade, likely to be ignited by news very soon. Eric Sprott has as recently as February 4th filed purchases of over 1m shares in the low .60s, and I doubt he's in this for a 15% return. Drilling has been ongoing, will they find another massive of boulder of almost solid gold??
Once RNX hits .80/.81 the rally will accelerate fast. Buy up to .75 on RNX and up to .58 or so on RNKLF in the US. From February 5th....
I'm pleased to announce a trading buy alert on RNC Minerals (RNX/RNKLF) at 66 cents CDN this morning. RNX owns the Beta Hunt mine in Western Australia, where they have been finding unprecedented gold boulders in their father's Day vein since September 2018. I believe they will very likely find more of these amazing grades/veins/boulders and it will cause another spike in share price early this year. The stock has clearly broken out technically during the third week in January, when I began taking a position (see chart below).
Eric Sprott owns 10% of the company and has been aggressively buying in the open market as recently as last week up to .63 (over 1m shares since Jan 28th ). Eric highlighted RNX at our Phenom Conference at the end of October and clearly likes what he sees, and is still seeing at current prices. I believe a retest of the 2018 high near $1.18 is likely, but you could choose to be "conservative" and lock in some trading profits near $1 and make 50%. I think that run is likely in the next 2 weeks to 2 months. Buy up to .70 CDN and on any weakness.
Eric
| | Sincerely, Eric Muschinski |