Royal Nickel Corp. RNKLF

Rnc

[arh0070]

There are something like 450million shares outstanding for RNC (thats a lot).Prior to the discovery of the Father’s Day vein the share price was around 10 cents and the beta hunt mine was for sale .The share price is now nearly 50 cents Canadian for a value of the company at around 225million canadian up from 40 million or so prior to the discovery .The Father’s Day vein was worth around 30-40 million and a lot of that revenue was used to pay off debt .So one can clearly conclude that something like 180 million dollars canadian is priced into the share price in expectation of more finds ,this would equal 5 Father’s Day veins .In the interests of disclosure I bought some rnc shares at around the same price as Sprott .
Sadly there are a lot of posts on this B.B. which bear no relationship to reality and are made by novice investors or pumpers.
Its pretty obvious that the company will need to do a lot of drilling underground to prove up The equivalent of 5 Father’s Day veins .They now have the money to do it ,Little seems to get done in Australia in the mining world in the two weeks between christmas and New Years .The company has said and there is no reason to doubt them that they will update resources in April,Most Times these deadlines slip .If you read Eric Sprouts words of wisdom ,he is investing for the long term (minimum 2-3 yr time frame ).The company if and when it finds something will need to dig out tunnels to where the gold is so it can produce at a profit and sustain itself .This all takes a lot of time .We will all be very fortunate if the company can start making a quartly profit by the third quarter of this year .arh