$RNX: Purchasing HGO, timely or too soon? Purchasing HGO, timely or too soon? A good thread initiated by esk_71 on Stocktwits May 13th 2019:
esk_71:
«volume traded low. Fear in the market creating panic. Deal not closed yet and until then the powers that be would love to take your shares. I think good things will come. »
LoonTrader:
« @esk_71 I think the market is following Sprott's concern that buying the mill seems premature based on what (WE) know at this point in time. Would it have been shut down or bought by others in 6 months? Paying for it with shares at lows since FDV discovery and below recent bought deals doesn't inspire support. Now, if Selby and team prove the potential at BH and find lots more coarse gold, then the mill could be justified and market will put this behind us. I suspect the majority of us retail are bagholders now, looking for close to double from here to break even. Not what I expected, that's for sure. »
pierreG01599501:
«@LoonTrader @esk_71 I believe RNC Minerals is prioritizing accrued development and production and want to fast track their growth and profitability and you have to spend money to make money. »
esk_71:
«@LoonTrader I don’t think mill was premature at all. In this business you take money when it’s available. Mill gives them two things lower cost processing and revenue. Sprott is aggravated in general with the way market is responding to gold. I haven’t seen him sell any RNX yet. These things take time and he knows it. He’s got a portfolio of at least 10 or more mining starts. Everyone wants the 10x but it rarely happens over night. »