GREY:RNKLF - Post by User
Post by
goldhunter11on Nov 12, 2018 11:23am
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Post# 28959890
12 November 2018 News Release
12 November 2018 News ReleaseSome people decided to poke holes in some of the numbers, particularly the "correction" (as in note 5) with respect to the Q3 milled result. It fair to say that the company should have paid more attention in its reporting, but RNX should be given some credit in its effort in providing the clarification, given the complexity of a combination of custom milling arrangement (for the lower grade ore, ~3 gpt) with a near-by company mixed in with the direct shipping ore (DSO) of the hand-pick coarse gold (plus the specimens) directly to the Perth Mint.
In my opinion, the NR is quite positive, and the company can provide additional information to clear up any potential misunderstanding in the conference call (tomorrow?).
What seems to be the most important piece of information (and RNX has pointed this out in the first sentence of the NR) is the Gold Production Year-to-Date of 71,957 oz (almost 72,000 oz Au). As of 31 October 2018, 84.1 ktonnes of ore remained on the RoM pad to be processed (say ~10,000 oz, assuming 4 gpt). This along with the production for November and December from all sources (regular bulk mining, hand-pick coarse gold and specimens) would easily push the production over the 100,000 oz Au/yr.
In addition, gold sales ($$$ going in kitty) Year-to-Date of 58,527 oz is impressive. At Cdn $1000/oz profit (assuming all-in cost of ~$700/oz), the company would rake in a total profit to date of ~C$58M which is no chump change for this small company.
Note: Sale of specimen (with premium over the cost of the gold content) would be expected to bring in a bit more money.
Just my opinion and speculation folks. Please do your own DD.
GH11