Royal Nickel Corp. RNKLF

RE:RE:GTV 2.0, what would happen to this load of 274kg rock?

[goldhunter11]

Joseph_K,
You asked: "What is your source for saying the 1750 oz was discovered on the 20th goldhunter11?  My source for Huet being informed about it on the 21st is Huet himself in this video:"

Answer: Source is Figure 2 of the 24 Sept 2019 NR (see . Link below
https://prnewswire2-a.akamaihd.net/p/1893751/sp/189375100/thumbnail/entry_id/0_gefucjx3/def_height/1250/def_width/2018/version/100012/type/1

You may want to check the video and see if Huet was actually saying it was the 21st in the video. He said "during the week-end", keeping in mind also that Australia is half day ahead of us.
GH11
--------------------------

Joseph_K wrote:

If the 1750 oz hit was discovered on September 20th as you say, then it would seem that the odds are good there was a leak.  Why else would 8M shorts cover in the last 20 minutes of trading on the 20th, unless there was a report of 'a find'?  Sure we all knew there could be a micro ETF MOC sell at the close (which turned out to be a micro MOC buy instead didn't it?), but that would be no reason for half the shorts to cover at once.

Plus, how the heck do you get 8M covering and the share price doesn't move drastically higher?  Was some institutional manager playing (fill my pocket) games with the shares in a fund they manage?

At this point all we know about when it was discovered is that Huet said he was informed about it on the 21st.    I suppose that since they are 12 (or is it 14?) hours ahead of us, that someone could have leaked news of the 1750 oz discovery to a major shorter, prompting them to cover as quickly as possible.   However covering 8M shorts and closing down more than 10% just isn't possible, unless you already had something arranged to cover.  And realistically, who on earth would give up 8M shares to allow someone else to cover and book a 10%+ loss on the deal?  Nobody - at least nobody in their right mind.  If you are aware that someone has to buy 8M shares, you hold tight to your shares and force them to drive the share price higher. You don't dump shares at a loss so that someone else can make extra bucks on their short covering.  Unless of course, you happen to have control of some fund - where investors in that fund were counting on you to work to their benefit - and you screw over your investors to line your own pockets to cover your shorts.   At the moment that is the only scenario I can imagine to explain what happened in the last 20 minutes of September 20th.   It is absolutely a guess on my part, but I can't think of any other way it could have happened.   Can any of you?  I'd love to hear other possible explanations for the trading and price action that day.   If I remember it correctly, we were even trading at 36 cents in the minutes before the massive volume took place in the last 20 minutes.

This really should be looked into - assuming we actually have a regulator willing to act on this sort of thing. 

What is your source for saying the 1750 oz was discovered on the 20th goldhunter11?  My source for Huet being informed about it on the 21st is Huet himself in this video:

https://www.youtube.com/watch?time_continue=2&v=4chEpsfZ6W4

 

goldhunter11 wrote: This gas tank size load of 274kg containing approx 1750 oz (worth about C$3.25M) was discovered on 20 Sept 2019. What would happen to this load of rock (grade ~200,000 gpt..very nice "coarse gold" as shown in Figure 1 of the NR).
- Will it be included in the Sept production? Soon, Paul Huet would disclose the number for Sept, which is expected to be north of 8000 oz (the production level per month for July and Aug).
- Milled already? Most likely, since it a bother (and costly) guarding a small load of rock with a value of $3.25M. The best way and most secure way is to send this load in a Brinks truck (small truck would do) as soon as possible to the HGO Mill (one hour away) and put it in the ore bin for processing. Best guess: By now it has been processed are in the Au dore bars.

Perhaps, RNX has some options for reporting the revenue and cost for this load of rock, but Paul Huet will do that in Q3 reporting.
GH11
----------