RE:Eric Sprott thoughts on Management & drilling, my takePierre,
I noted the Oct production number as well and it's quite a diappointing drop in Nov/Dec. Perhaps, the timing of the actions could have been done a bit better. However, investors could have guessed that, just like the Ni mining, Au production would have to be ramped down as well due to the emphasis on the resource estimate (RE) with the 40,000 m drilling program, since one cannot do everything (effectively) at the same time. As I recall (not the timing though) the company has mentioned re-assigning workers to perform different tasks (drillers in favour of miners). This would fit in their general game plan to focus on their key property, Beta Hunt, instead of Dumont (my guess and preference).
So, instead of spending the $10M from the last PP to bring backe the 50% ownership of Dumont, this money would be used to provide additional drilling (another 40,000m?)...and Dumont would be spun off (as a JV) perhaps to bring in some cash.
If additional money is required to carry out a much larger program Mark would know who to talk to. ES currently has just over 10% of the OS, or around 47Ms. Adding another 50Ms would put him just below 20%OS (18.7%). This would make ES a solid anchor in RNX, just like Robert Friedland having Falconbridge in his Diamond Fields's corner to "encourage" INCO to cough up over $4B for Voisey's Bay. ES would know when the price is right for his investment.
GH11
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pierreG01599501 wrote: I believe Eric Sprott is disappointed in Management due to RNX releasing on November 12th 2018 production of 13,497 oz of gold in October and then, on February 25th 2019 Nov. & Dec. 2018 combined mined production of 1,844 oz (including 994 oz of coarse gold), a sizable difference. I think management should never have provided October production results and then announce 16 days later the 40,000 metre drilling program, all knowing production would be significantly ramped down and perceived Q4 production results to be a let down. Finally, Eric Sprott said: «The drilling has been in my mind very successful, keep finding high grade sections. » This is positive, as the company needs to prioritize drilling in order to prove out an ever increasing resource and gold production.