RE:RE:Beta Hunt Gold Operations - FAO factRbestHi NBM,
I don't think FAB means any harm, and he is clearly frustrated by past performance, but on doing some more research I conclude that you have a point.
FAB indicated that, after the Waterton transaction, RNC DID have the money to explore and, indeed the FS for 3Q17 shows cash on the balance sheet of C$21.6m - BUT note 1 to the accounts states:
Working capital included cash and cash equivalents of $21,564, of which $21,206 is dedicated to the Magneto JV
I.E. nearly all the cash was committed to the Dumont project. So, this indeed may be the first time RNC has had enough available cash to explore Beta Hunt properly.
FAB - feel free to correct me if I've misunderstood, misquoted you or missed something.
Best,
Mark