Topic: How To Invest

Q: Pat, could I get your opinion on Royal Nickel? Much appreciated.

Article Excerpt

A: Royal Nickel, $0.85, symbol RNX on Toronto (Shares outstanding: 274.5 million; Market cap: $317.4 million; www.royalnickel.com), operates under the name RNC Minerals. RNC shot up at the start of September 2018 after the miner revealed it had unearthed about 9,250 ounces of high-grade gold from a single dynamite blast at its Beta Hunt mine in Western Australia. The gold came from a 130-tonne cut of rock. The find—discovered in just four days—equals more than 560 pounds (255 kilograms) of gold. Its total value is about $10 million. The rocks were situated about 500 metres below the surface in an area just three metres wide and three metres high. The largest rock weighs about 198 pounds (90 kilograms). It’s covered in an estimated 2,300 ounces of gold worth about $3.8 million. The second-biggest piece was just under 132 pounds (60 kilograms), with an estimated 1,600 ounces of gold lodged within the quartz specimen. That gold was valued at about $2.7 million. RNC plans to…