RE:Actually if RNC makes a Significant Find they are BillionaireBoy you wrote: « I am inclined to think that the costs are running higher than they anticipated and that they will probably need the have another dilutive Private Placement. Hence the sudden drop from .44 to .40 and a total lack of buying interest. »
Paul Huet Q3 '19 Earnings Call: « On the financial side, our balance sheet has been strengthened substantially. We ended the third quarter with approximately $25 million in cash, working capital of $12 million and generated adjusted earnings of $8 million. Following our oversubscribed $18.5 million bought deal financing, we have a very healthy cash position.
And importantly, we are now adding cash to the balance sheet from our operating activities. Coupled with the cost reduction efforts underway, I’m excited about the trajectory and momentum we are building across the organization.»
INVENTORIES P. 13 of INTERIM CONSOLIDATED FINANCIAL STATEMENTS Nov. 6th '19: « Total number of ounces held at September 30, 2019 was 28,799 »
Q3 '19 RNX with a solid financial position.
In millions of dollars:
Cash and cash equivalents Q3 '19 24.8 = Q3/Q2 '19 182% or 16
Working capital deficit Q3 '19 12.2 = Q3/Q2 '19 -247% or 20.5
Property, plant and equipment Q3 '19 77.8 = Q3/Q2 '19 1% or 0.9
Total assets Q3 '19 166.2 = Q3/Q2 '19 8% or 12.4
Total liabilities Q3 '19 86.7 = Q3/Q2 '19 -8% or -7.9
Shareholder's equity Q3 '19 79.5 = Q3/Q2 '19 34% or 20.3
4th quarter already with seemingly around 12,719 ounces: 7,769 OZ + Coarse Gold of 4,950 OZ (1,750 & 3,200).
AISC will significantly drop as per Paul Huet at the Zurich conference https://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2019/11/12/rnc-minerals/play/stream/28888:
« We expect another close to $100 ounce saving from where we are in Q3. »
Burn through their cash and PP due to higher costs most unlikely.