RE:CRUX Interview with Paul Huet, Jan 11th '20 Thank you Pierre for the YouTube link
https://www.youtube.com/watch?v=Sh98nCWNxvo
Just watched it and here are some take-away points:
- Huet thanked the team in WA for their banding together in helping the local authority to fight the bushfires. No injuries, minimal interuption in RNC operations at BH and HGO mill areas.
- Amazing turn around with $37M in cash, out of which $3M was used for paying down the debt. Cash at end of 2019: $34M (compared to $1.3M for the previous year, an amazing turn-around.
- Guidance: will come in a few weeks, excluding coarse gold. Two areas will be highlighted (a) hired a geophysicist to identify the areas where coarse gold would likely be located (nearby known discoveries, and beyond); (b) bring downAISC with emphasis on re-negotiation on Royalities on the new lands (1800 sqkm, RE:over 1Moz) acquired along with the HGO Mill. These new lands have been neglected (in term of development) due to the royalty concerns. Started a new pit near the Mill. AS I understand it the Baloo area is not subject to any royalty (that's why they are expanding the operation there).
- Staff turn-over rate has been reduced drastically from 87% to 19%, and RNC has become employer of choice in the area. Got a former Redcloud heavyweight on board
- Huet was dancing around the question of potential financing in 2020. With expected cash surplus, RNC may not need to raise any more moeny, unless...But a CEO would never committed to say "never".
- Minimal Interuption in mine and mill operation: Back to this issue again. As expected, thanks to their assistance to the firefighting effort with local authorities, RNC could have intense scheduling and planning to move materials (ores and supplies to the mill) during "gaps" between road closures. This is the kind of "good wills" you would get in return for doing good deeds.
- The rain came and this helped a lot. Don't expect any material change in Q1 of 2020, even if bushfires started again (cool weather is coming soon in the Fall, risk of fires would be less).
- RNC will follow standard practice with Quarterly report (instead of monthly).
- Dumont? The emphasis is on Au, will wait for Ni to rally.
GH11
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pierreg wrote: Interview with Paul Huet
RNC Minerals - But we keep pushing, keep our foot on the pedal. Jan 11th '20.
https://www.youtube.com/watch?v=Sh98nCWNxvo