RE:How much the boulders/nuggets are worth?Hello pierreg,
As you have indicated the gold value of the 4 rocks with 30% would be ~C$5.6M. Just to be on a conservative side, I would take off the premium, hence minium value would be 5.6/1.3 =
$4.3M.
There are many other smaller specimens, plus a whooper which RNX sent to and outside Lab to determine the content (we haven't heard back for several month...perhaps, this is a job for the new IR person to find out for us).
This whopper,"(the golden rose" specimen) is shown in a picture on your post. It' s on the 151 scooptram bucket in the link below (there is a miner boot in the picture which can be used as a scale...size 10?). My eye-ball guess would give it a weight of 200kg. Take off 50%, just to keep the Au-encrusted quartz portion alone, Also, I would assume the lowest wt %, 44%, (from the 4 specimens, King Henry, etc...) the gold content of the "golden rose specimen" would be: 44kg Au = 44,000/31 = 1,400oz Au (about the same as King Henry =
~C$2M. Total value of all specimens: 4.3 + 2 +xxx =
over C$6.3M (gold contents alone, no premium).
The specimens tour has achieve its purposes (to get RNX more exposure in the financing circle). Perhaps, RNX should follow the practice to keep an item at elevated value by not keeping too many similar items around (if there are too many, they would be nolonger rare?). One example: If you have 2 copies of a rare painting, then burn one. The price of the surviving painting would sky- rocket. There is a joke going around in Japan that if an item does not seem to move, double the price, then you would have a line-up of customers wanting to buy it (who would want to buy cheap stuff?).
MS could use this opportunity with the specimens (keep just one or two large ones for sale in an auction) and use the rest to blend up the lower-grade ore either from BH (could be from the stockpile and resumption limited of coarse gold mining) or ore from Mt Henry to get some profit from the HGO mill. Just wondering if it would be feasible to strike a "side deal" while ANX is doing the DD (during the 40days, and/or the 30 days after the DD).
Cosider this side deal as part of the DD, to re-confirm the 94% recovery rate.
BTW, in the 2018 Financial report, there are approximately 10,995 oz Au un-reported. Presumably this sum will be reported in Q1 of 2019: 10,995 oz Au x1300 x 1.25 = $C17.8M (= A$18.7M, a substantial amount). This along with the specimens value (over 6.3M) would be enough to pay for the $A25M cash portion ogf the deal). And the $12M BD money could be used for something else. Any accountant out there to weigh in?
GH11
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pierreg wrote: RNX Q3 2018 Selected Gold Specimens – Estimated Gold Content at 30% markup at $1312 USD oz:
Specimen King Henry Gross Weight (kg) 94.21 Estimated Gold Content (oz) 1,402 Gold Grade (g/t, %) 462,870 g/t, 46%: $2,391,251
Specimen Warren Gross Weight (kg) 63.38 Estimated Gold Content (oz) 893 Gold Grade (g/t, %) 438,236 g/t, 44%: $1,523,100
Specimen Sylvie Gross Weight (kg) 3.86 Estimated Gold Content (oz) 88 Gold Grade (g/t, %) 709,095 g/t, 71%: $150,092
Specimen Steve Gross Weight (kg) 3.87 Estimated Gold Content (oz) 74 Gold Grade (g/t, %) 594,740 g/t, 60%: $126,214
For a sum of $4,190,657 USD or $5,627,190 CAD including markup. https://web.tmxmoney.com/article.php?newsid=7201418124719973&qm_symbol=RNX