RE:My guess
Rookie,
I like the way you're thinking, another property would be great to show that they are really ramping up to be a much bigger player than they currently are, but I don't think that is it.
They have one great property, Fenelon, and are continuing to explore it with 70,000 meters of drilling this year, and they have Beshchefer which they have just started to drill on and we are awaiting those results. I think for them to get yet another property at this point would be getting ahead of themselves.
They are still looking to get the BIG picture on Fenelon, then they have a lot of drilling to do on Beshchefer to prove its grade and ore body and potential. I would say that is more than enough to keep them busy for the next couple of years, and if they did in fact purchase another property it would be years before they would have the funds to properly explore it.
I think the more likely scenario for all the insider buying, and Sprott coming back again and again and again, is that they have hit something BIG on Fenelon (or Beschefer) that is soon to be released. When RNX hit their Fathers day Vein, they shot up from the teens to over a dollar in short notice. My prediction is they have either hit VG (and a lot of it) in some deep drills far away from current rich zones on Fenelon which will demonstrate a SIGNIFICANT extension of their strike and ore body, OR perhaps they have they have hit their own vein on one of the properties (if this is the case this could be the reason for the application for the extension of the bulk sample) and everyone is getting very excited about the awesome potential this could mean for them. JMHO. :)
Thoughts?
Jefe de Oro