RE:Comprehensive Study Reportok, newbee factrbest..someone needs to hold your hand. Here is the
FEASIBILITY STUDY.
Do you know what a mining feasibility study is? Well, if you go to page 14 you will see the inital capital cost for the project quoted at $1.268 billion. If you go to page one, it specifically says all amounts are in Canadian dollars. In other words the capital cost is approx US$1 billion...case closed.
Nice of you to admit that the feasibility study used $14 cobalt instead of todays $34 price, and then you say we need $7.97 nickel instead of $8.00 nickel...more FUD?? I have heard that the project starts making sense at todays cobalt and nickel prices...so stop publishing fake news.
With respect to BetaHunt, you talk out of both sides of your mouth. You say BetaHunt is worthless and then say RNX needs to fix it..which one is it. Look at page 21 in the latest
INVESTOR PRESENTATION. What do you see....hmm, increased material mined, increased grade, and the lowering of cash costs.
Now you have the company saying this:
- Beta Hunt nickel production is expected to double in 2018 (from 2017 production levels) to approximately 4 million pounds of contained nickel.
- With ongoing ramp-up of gold production at Beta Hunt, C1 nickel cash cost is expected to be less than US$2.50 per pound, generating significant additional cash flow in 2018.
- RNC anticipates sufficient development will be completed by early 2018 at Beta Hunt to allow mining access to nickel resources in the 1820-1825 Beta area of the mine. As with other nickel deposits in the mine, there is the potential for bonanza grade gold mineralization to occur in close proximity to ultramafic/basalt contact, and for gold mineralization extending below the contact.
- "This support from Auramet and other key stakeholders will provide RNC with the financial flexibility to complete the gold and nickel ramp-up at Beta Hunt, including the planned doubling of nickel production in 2018, by deferring principal payments until March 31, 2018, reducing the principal of the senior debt facility by US$3 million, and providing an additional $4.5 million in capital. The Beta Hunt Mine remains on track to achieve strong quarter-over-quarter gold production growth in the current quarter to meet our updated guidance and complete the development to double nickel production in 2018,
SO FACTRBEST....TELL THE BBOARD ONE THING...WHAT ARE YOU HONESTLY DOING ON THIS BOARD...DECLARE YOUR POSITION.