$RNX: Looking for the next NR for an update on ... Good post by @JMAC90 on CEO.ca May 18th 2019: about putting things in perspective:
«For everyone out there that’s always looking for the next NR for an update on: production, FDV, drilling, or resource...
«There’s only been a couple updates over the last 6 months but they’ve been sparse and often leave many questions on the table. Well, that all changed for me with the Graeme Sloan interview. The interview took place Feb 21st for those who are unaware. In the interview Graeme mentioned at the time they had between 2-4 headings and within 6-8 weeks they’d have 8+ headings and multiple stopes ...well, come Tuesday it’s been 12 weeks so we can assume there’s 8+ headings or more and multiple stopes attacking the gold and nickel!
Since the over-allotment closes today we should expect a NR regarding such closing this weekend or before open on the 21st. This news opens the door to a greater news flow, I tend to believe. RNC is a mining company, so the company doesn’t have to update the needy investor on regular mine activities; like all the development, headings, and stopes that have been underway. If it wasn’t for Graeme’s interview we wouldn’t know how advanced the mine is, besides the last update saying we are ready to mine the FDV. It was great getting specific details from the man overlooking it all. The mine is massive with 2000tpd capacity with potential 3500tpd -5000tpd future production with upgrades to the ramp and mill when the time makes sense. In the interview he shows us a picture of a mine plan where there’s a colour coded drawing showing where development has taken place and where drilling has been done. Like the last NR states they’re knocking on the door of the FDV. The mine plan shows exactly what we read! We are there! It really is going to be a good couple months with FDV down dip getting mined and other stopes mining nickle and gold. It’s been long awaited but we are doing what we do best again, MINING! There’s too many catalysts in the short term to be on the sidelines; FDV 2.0, nickel (4% or 400$ profit a tonne), 20,000 meters of drilling assays, within 6 weeks a resource update, and news on exploratory drilling!
The FDV is the biggest draw to the average retail investor, but for me it’s the drilling which is targeting deep into the shears. They are looking to see if grades improve with depth. Just like KL’s fosterville mine. As of now, our assays have come back with some large widths of very profitable bulk mineable areas, and some narrower ultra high grade areas which are harder to mine but pay off handsomely, when reached aka FDV. Some key intersections hit this campaign include;
* 1,017 g/t over 2.00 m, including 7,621 g/t over 0.27 m in hole WFN-029
* 395.9 g/t over 4.75 m, including 2,210 g/t over 0.85 m in hole WFN-063
* 468 g/t over 0.21 m in hole AZ13-156
* 119 g/t over 6.40 m, including 1,406 g/t over 0.50 m in hole AZ15-013
* 16.8 g/t over 27.8 m, including 748 g/t over 0.53 m in hole WFN-071
According to Graeme, mine superintendent, B-H would be quite profitable at 4g/t, alone. If these already great grades improve with depth which they are completely open to, then.... BONANZA!
So many things to look forward to. Here’s to some great blasting and green days ahead! »