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Royal Nickel Corp. RNKLF



GREY:RNKLF - Post by User

Comment by origamion Mar 24, 2017 2:42am
128 Views
Post# 26024184

RE:RE:RE:Beacon Securities: Buy rating and $0.85 target price for RNX

RE:RE:RE:Beacon Securities: Buy rating and $0.85 target price for RNXThe reason Beacon lowered their price target:

We previously had Dumont valued at $45.5 million in our NAV. Based on the transaction we have reduced the value to $19.5 million to account for 50% of the cash balance in the JV

The thing that disturbs me most about their assessment:

Our NAV calculation assumes RNC will issue 200 million shares at $0.30 and secure $20 million in project debt for Westgold’s SKO operations.
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