RE:Will KL buy RNX?Go see the production profile of Beta Hunt mine...it produces not all that much at a cost profile that is not so great. RNX was just about to sell it before finding the thousand ounce piece in early September.
These are two anomalies uncovered. The company needs to drill and explore before any one is making a "blind offer" based on TWO press releases (2nd one was just a week ago).
I read on CEO.ca someone was saying KL has a market cap of $ 5 B so should offer $ 1 B in shares to RNX??? Are people that insane...
That would value RNX at close to $ 2.50 CAD with a closing price of $ 0.56 CAD!
I don't think Tony is paying 500 % premium for a mine that was just about to be sold by RNX management with 2 anomaly finds. This requires tons more of due diligence.
What KL might do would be offer them $ 10 M for equity similar to an OSK for them to launch a drill campaign...not an out right acquisition after two press releases and no real drilling having been done.
No need for Novo 2.0. Although would not be surprised to see RNX crack a buck in the next couple of weeks just based on speculation.
JIN
Lemboy wrote: Will KL have to compete for RNX? How much would we have to pay for RNX any ideas?