GREY:RNKLF - Post by User
Comment by
factRbeston Feb 25, 2018 8:11pm
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Post# 27618441
RE:factsRbest....So what's the point?
RE:factsRbest....So what's the point?geodude13 - (2/25/2018 7:48:32 PM) factsRbest....So what's the point? And what's wrong with a junior miner growing its influence? If RNX goes to $0.70 or $2.00. Both are big wins (270% or 800%) deploying a strategy of developing and optioning off assets.
Ivanhoe is a world class development company and if RNX were to do the same would I be disappointed? You'd be nuts to say that's a bad outcome.
The Beta Hunt asset is being re-engineered and interpreted. That doesn't happen in a quarter. They need time to optimize the geology and how to maximize recovery and to lessen mining costs. These guys have good pedigrees; if you're not onside...why are you here.
I don't understand the source of the negative tone. What is your concern based on what fact?
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I am not sure how long you have been around RNX but it hasn'r been a quarter at beta it is going on 2 years.
the stated grade
3.5 g/ton
Actual
2.0-2.5g/ton (sometimes less)
the stated ASIC orignial 700-800/oz then continually increased
The actual ASIC 1500 - 1700/oz
The stated total gold 60K oz lowered to 45K oz neither ever achieved
Actual total gold approx 35K oz
Most recent restated downward production for 2017
MY POINT
THEY WILL CONTINUE TO SELL ASSETS FOR NEXT TO NOTHING TO PAY THE BILLS FROM BETA HUNT.
MY POINT
Nickel can be mined at beta for an ASIC of 2.50
Nickel sells for 6.00
Nickel was being mined when they bought it and profitably.
When all is left is a money losing gold operation will then people understand the concern???
From data I previously posted
cost to mine a ton of ore - $97.00
At 1350 gold
2g/ton = $95.00
3g/ton = 142.00
That is not the ASIC just cost and value
They have never reached 3g/ton but if they do and using these numbers and 70K ounes (only making half of that) that is $3.2 million in profit.
Well worth the cost wouldn't you say. Again that is not the all in cost.
If they mined the same tonnage in nickel they would make hundreds of milllions of dollars.
THAT IS MY POINT
AKA - FIXING BETA