GREY:RNKLF - Post by User
Comment by
goldhunter11on Jun 11, 2019 6:02pm
126 Views
Post# 29816716
RE:Loan
RE:Loan arh...
A few comments:
- LoC: It's a credit facility, or line of credit, not a loan. The amount is $35M. You draw down the amount you need and pay 10% (annual) interest on the amount. Watch the new CRUX interview, link given in a few posts back. It's good that you considered 10% rate is a good rate. I believe this has no collateral attached to it, according to MS in the CRUX video call.
- Another find of FDV would bring in 35,000 oz with little cost. A profit of $40M per FDV would be a good chunk of money (remember FDV wiped out RNX debt and brought it back kicking from bankrupcy?). Imagine 5-10 FDVs would bring...$200M -400M. Give RNX 2FDVs and the SP would go ballistic...way above the $1.10/s predicted by CANTOR Fitzgerald. One FDV would wipe out the LoC with some spare to explore for more stuff.
GH11
---------------------------
arh0070 wrote: RNX is a very high risk investment .I am personally surprised that they got a loan at 10% .Presumably the Higginsville plant is the collateral.
There is an extremely sophisticated and extensive pr effort by rnx and its acolytes on these bbs to try and persuade investors that this is a good investment .
18 months ago there were about 300 million shares out ,now with options and all the financings its close to 600 million .Its hard to determine precisely how many .Thats a lot of shares on a one horse pony .
So this investment is very dependent upon finding a lot of easy to mine high grade deposits .Mining at 4-5 grams per ton with all the expenses and royalties will not make a profit sufficient to justify the companies current value .
What a load of rubbish from the brokerage company that this company is worth 600 million plus canadian .
So as I have said before ,if they find 5-10 Father’s Day or equivalent finds it might do well ,if it doesnt ,good luck with a$1.10 share price .