RNC Minerals: The Red Flags Just Keep Piling On

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About: Karora Resources Inc. (KRRGF)
by: Gold Panda
This article is exclusive for subscribers.
Gold Panda
Gold, Long Only, Deep Value, long-term horizon
Summary

The company recently announced its third capital increase in the past nine months and the amended terms include warrants.

RNC said in its Q2 2019 conference call just a few weeks ago that it wouldn’t need more financing in the near future.

There are several more red flags including no reserve estimate for Beta Hunt, no information on AISC and a leadership change.

Introduction

The main project of RNC (OTCQX:OTCQX:RNKLF) is the Beta Hunt gold mine in Australia. It’s a marginal project which the company had been trying to sell since April 2018 but