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Pandoraon May 14, 2020 5:27pm
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RE:Ooh na na, what's my name? New @CruxInvestor interview
RE:Ooh na na, what's my name? New @CruxInvestor interviewpierreg wrote: RNC Minerals (TSX: RNX) - Ooh na na, what's my name?. @CruxInvestor. May 14th '20.
https://www.youtube.com/watch?v=nFT-oa4r5Z8&feature=emb_title
« Interview with Paul Huet, CEO of gold producer, RNC Minerals (TSX: RNX)
Hot on the heal's of the announcement about the acquisition of Spargos and the proposed name change to Karora Resources.
RNC Minerals has agreed to pay $9M (30% $2.7M immediately, the remaining 70% paid over 30-months $1.26M every 6-months). The Morgan Stanley royalty elimination is a highly accretive transaction. The 2% + 1.75% NSR buyback effectively lowers the mining cut-off grade. The Morgan Stanley royalty covers ~2/3rd of the 1.22Moz historic M&I Resource (18,790 kt @ 2.0 g/t) and 0.68Moz historic Inferred Resource (10,634 kt @ 2.0 g/t) at HGO as well as large portions of our exploration targets. This is a significant move. And the resulting contribution to the bottom-line will be felt for years. We calculate it to be in the tens of million of dollars.
In addition this week RNC Minerals is proposing a share consolidation. 11:1. We discuss why and why not sooner.
And welcome to new addition, Roger Huet.... »
I read the last 3 news releases and could find no reference to a share consolidation. My reading may not be that good. Could you please give a reference to where you saw that.