Royal Nickel Corp. RNKLF

Beta hunt

[arh0070]

The beta hunt is Not one the best gold mines ever found .People are not shorting this stock in significant amounts .There are just loads of shares out there and investors are selling because they dont believe all the hype .The critical issue is ,can they mine the underground gold at a profit given thier royalty structure .Everyone got carried away by the Father’s Day vein and paid ridiculous amounts for the shares given the amount of shares out  there .They have not discovered another Father’s Day vein .The mine has never been particularly profitable ,thats why RNX bought it for less than 1/10 of RNX current market value and why they were selling it probably for 20 million or so until the Father’s Day vein discovery .it has a lot of underground structure but no mill hence the need to buy a mill with shares at a reduced price .The share price is going down because of the relentless dilution to drill the mine ,keep it going financially and buy this mill nearby .
The key point now is the release of the updated reserves based on the new drilling results and that the company has said will be before the end of the second quarter (end of june).
In addition the POG is down and small mining stocks are in a bear market ,small wonder the price of thier shares are dropping .
The key thing to look for in the updated reserves and new mining plan is going to be the estimated grade of the material being mined .If it is in the 3-5 gram range on average ,with thier royalty structure they are toast .If its between 10-15 grams per ton they might have a profitable operation .
So quite frankly it doesnt matter what Selby or anyone else has to say ,it will all comes down to reserves and grade .