GREY:RNKLF - Post by User
Comment by
Tickletimeon Nov 02, 2018 7:26pm
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Post# 28917770
RE:What reduction in day trading means for RNC?
RE:What reduction in day trading means for RNC?I think it is a reduction of volatility, everyone is waiting with baited breath on the next production reports. Everyone has now figured out the Q3 numbers on last release were squed because of averaging over the entire quarter, opposed to the FDV grade being set apart on their own. Maybe a mistake by RNC on the report, but more likley the way they had to report for the quarter. I think their hands were tied as to how to disclose, 3 gram/ton for X amount of tonnage and over 1000 gram/ton for the last 2 weeks after FDV. Quarterly reports usually reflect totals for the period.
I belive that there has been enough shakout, that strong hands who understand this, are holding hence less volitility and trade volume for the day traders to work with. Rumblings are that production continues at very high grades, and we all wait for confirmed numbers to come forth.
I'm a firm in my belief that they are on to a solid model for the source of this gold, and expect numbers to increase from here.
If any are shorting, expect them to slowly drop out before next quarter numbers come out.