Two and half years ago I warned the boardthat these guys were not following the normal methods for mine development. That they were instead gambling. the abandoned the profitable nickel to chase the gold dream.
For it I was called basher, shorter etc.
Interestingly, when they abandoned the nickel they said it was to save it for higher prices. Well, prices are higher and they refuse to return to mine the nickel.
Either these guys are mentally stunted or their arrogance prevents them from returning to nickel as it would be an admission of failure. So instead they bankrupt all the shareholders.
FUKKIN DOTARDS
If nothing else. In the future if a poster posts "negative"
information you might want to actually research it rather than go all Trump with your next post.
Last two financings (EXECUTION)
HOW MUCH PAPER HAVE THEY PRINTED? ALL WITH A NEGATIVE RETRUN!! TORONTO, Jan. 12, 2018
TORONTO, Jan. 12, 2018 /CNW/ - RNC Minerals (TSX: RNX) today announced that it has completed the equity issuances described in its news release dated December 14, 2017, by issuing 29,750,312 common shares to Auramet International LLC at a price of $0.16 per share and 7,704,167 common shares to other stakeholders at a price of $0.16 per share. RNC has also signed subscription agreements for an additional ten million shares to be issued for cash at $0.16 per share on or before January 17, 2018 as part of the previously announced restructuring. These financing transactions will support the completion of the ramp-up and development of the Beta Hunt Mine, including the planned doubling of nickel production in 2018. See RNC News Release dated December 14, 2017 for additional information.
RNC Minerals (TSX:RNX) (“RNC”) announced today that it has entered into an agreement with Haywood Securities Inc., as lead agent on behalf of a syndicate of agents, including Laurentian Bank Securities Inc., Canaccord Genuity Corp., and Red Cloud Klondike Strike Inc. (collectively, the “Agents”), whereby the Agents have agreed to sell, on a “best-efforts” private placement basis, a minimum of 40,000,000 units (the “Units”) of RNC, at a price of $0.15 per Unit (the “Issue Price”) for minimum gross proceeds of C$6,000,000 (the “Offering”). Each Unit will be comprised of one common share in the capital of RNC (“Common Share”) and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.21 for a period of 30 months following the closing of the Offering. RNC has granted the Agents an option, exercisable in whole or in part at any time prior to the closing of the Offering, to sell up to an additional 15% of the Offering in Units at the Issue Price.