My Current ViewMAZZMEX,
Years ago I had many questions on this board regarding silver recovery. There was a time when RCT finaced some silver recovery improvements. It wans't cheap, but the company hit 80% silver recovery, and then unexplainedly, the improved recovery rate dissapeared and low recovery numbers started being reported again. No one ever got an explanation as to why.
This company could care less about being a public company. They might as well be private. There's no website or accoutability to share holders as to what is going on. Never a word printed on Kitco, not even a IR department to contact. I've seen 2 IR agencies for RCT come and go. Right now if anybody knew about RCT it might jump like some of the small gold companies did today - huge leaps... However, I do not have my hopes up for this where RCT is concerned. It seems they will never release a PR intended to boost the company's share price.
It used to be that RCT was primarilly a Silver producer. The silver in the properties has always had a fabulous grade and easilly found. Hardly ever has there been a report where the silver grade they have been milling was below 200 gpt. Usually it has been in the mid 200's which is fantastic. Now it is about a 50/50 operation between gold and silver. This supports a conclusion on our part that between the lack of progress we see in silver recovery and the increase of the amount of gold produced that RCT is moving towards being a primarilly a gold producer. If it does this and increases its silver recovery too that would be good.
Emgib's accounting for the silver recovery deficiency is only part correct. My understnding is that induction furnaces have nothing to do with how much silver arrives to be smelted. The recovery process will determine the ounces smelted not the induction furnaces. Induction furnaces will produce a higher quality "bullion", free from so many impurities, more attractive for sale on the market. Some time ago I was told from a good source at RCT that the company is not interested in sending silver tailings through for a second recovery.
There are things going on with RCT that one could get excited about, but I caution about this. All does not seem right with RCT for some reason. Somewhere between not caring about the shareholder, and fraud there must be an answer, but the company has a track record of making and breaking promises. A quote from my previous post can illustrate my sentiment here, (and it hasn't changed:)
"I think nothing that could break this stock out will be reported. There will be no news that the mill expansion is done, that the induction furnaces are done, that the "under construction" website is completed. Talk about being handed a line...! And over and over again the same broken promises... "
I'd love to see a Kitco PR that says RCT production increase %100 with mill expansion compleation. I've been waiting to read it for many years as it was promised many years ago and it has never happend. Does anybody know why? It has always been reported that it was this or that... Truth? You be the judge.
Just for laughs I've got to publish this other quote again: "Wake me up when the mill expansion is really online. I may be dead first... I can't believe I own this dog..."