TSXV:RCT - Post Discussion
Post by
POG1200 on Sep 29, 2020 5:21am
Report Is Out
It only covers March - May. That means when June - August is documented there will be a better average for the price of gold for the months concerned.
Even though March saw the price of gold dip to $1450 US, there was still a good margin of profitability for the 4th quarter compared to what their ounces sold for during quarter 3. However, there was a mistake that had to be figured in that decreased the impact of a better price of gold for the concerned months. That was disappointing...
It all just sets up for even a more dramatic report in the coming future. There are good things in this report, and some things that I wished were better. Regardless, RCT continues to produce a tiny bit of gold, with the potential to grow, if they can ever generate capital enough to improve their operations.
RCT is so much closer now, with the price of gold higher than it has been, and hopefully holding. If the US stimulus gets passed at an additional 2.3 trillion, then maybe the price of gold gets another boost to even a loftier level... Eventually, the price of gold is going higher anyway - sooner or later.
I would like to see things turn positive for RCT. There are things they can do with some capital that would lower costs and increase production. They are right there. The higher the price of gold, the better it is for them, and the better it ought to get.
A long time ago there was a mining plan on the website that showed how they were going to get to 250,000 ounces per year. That was before the price of gold tanked and around when Mr. Luna became CEO. Who knows - but it is a pretty good property...
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