One of the most anticipated upcoming news releases will be the RNX core results, speculated to be this week; this being said, Mr. Henry Dole, a Kambalda miner working for the company is credited for the Fathers Day vein discovery that has sparked significant interest and due diligence by great many. The following are information sources to facilitate understanding the Beta Hunt fascination and its speculative nature and potential.
From ABC Goldfields, September 9th 2018, excerpts:
-The discovery:
«Underground miners in outback Western Australia have unearthed rare gold specimens which geologists are calling a "once-in-a-lifetime discovery".
Workers at the Beta Hunt mine near the small town of Kambalda, 630 kilometres east of Perth, have brought more than $15 million worth of gold specimens to the surface in just four days.
The gold-encrusted rocks were found about 500 metres below the surface in an area just three metres wide and three metres high.
The largest specimen weighs in at 90 kilograms and took three men to lift it onto the back of a ute.
The quartz rock is covered in an estimated 2,300 ounces of gold worth about $3.8 million at today's gold price.
Another 60kg specimen is estimated to contain 1,600 ounces, or about $2.6 million in gold.».
-The point of view of a geologist:
«Senior geologist Zaf Thanos said in most mines around the world it is only possible to see gold through a magnifying glass.
"You might go your whole life and you'll never see anything like it. It's definitely a once-in-a-lifetime discovery," he said.
"As a geologist, like I said, you get excited by a pinhead speck. But to see something on this scale is just phenomenal.
"This sort of bonanza zone is incredibly unique."
The rich cluster of high-grade gold has so far produced more than 9,000 ounces ».
-From Henry Dole, airleg miner:
«'I've never seen anything like this': miner
Kambalda miner Henry Dole is credited with the discovery, describing it as hitting the "mother lode".
Mr Dole had drilled holes into the wall of the mine and planted explosives which were fired once he was safely on the surface.
When he came back to the same area for his next shift, Mr Dole thought it was business as usual.
"Everything was covered in dust, and as I watered the dirt down there was just gold everywhere, as far as you could see," he said.
"I've been an airleg miner for 16 years. Never in my life have I ever seen anything like this.
"There was chunks of gold in the face, on the ground, truly unique I reckon.
"I nearly fell over looking at it … we were picking it up for hours. [..]
Are the miners just scratching the surface?
The question now is whether there is more bonanza gold waiting to be found at Beta Hunt.
In the eyes of Mr Dole, there is no doubt and he hopes it is just the beginning of a revival for the Kambalda community, which has been hit by multiple mine closures in recent years.
"It's no secret we were looking down the barrel for a while, but with this, it's picked everyone's morale up," he said.
"It's good for the town, the mine life, all of that.
"I truly believe there's something bigger and better down there.
"I reckon we're just on the fringe of it … and if we get deeper, I reckon we'll find more ».
https://www.abc.net.au/news/2018-09-10/rich-gold-seam-half-a-kilometre-deep-in-kambalda/10219576
From ABC Goldfields, September 12th 2018:
-Bob Fagan, WA School of Mines geology lecturer:
«The former WA School of Mines geology lecturer said it could attract more prospectors to the region, as well as mining investment for deeper exploration.
Dr Fagan said the region was already on the map as a world-renowned gold province and discoveries of this nature only reinforced that there was more gold waiting to be found.
"It's very encouraging because it says there's a lot of gold in the system, although this was coming from 500-metres depth," he said.
"This confirms what we already knew — that this is a very gold-rich area.
"It probably will attract more prospectors because we've got a situation where they've dragged out about $3 million worth of gold in half a day.
"The challenge is to find that on the surface [and] it's possible, although that's not very common ... you need to be very lucky." ».
- Significant finds in the surrounding area:
«ASX-listed company Lefroy Exploration has found hundreds of gold nuggets over the past five years on its 600-square-kilometre land package, just 10km east of Beta Hunt. »
From CBC Radio September 10, 2018 episode transcript:
«Gold Find
Guest: Mark Selby
JD: Miners at the Beta Hunt Mine in Western Australia used to extract nickel, but last night they announced that they had pulled out a much more precious metal — gold, and lots of it — including what might be the biggest gold nugget ever. The mine is owned by Toronto based RNC Minerals. The company has doubled its value overnight. Mark Selby is the president and the CEO. We reached him in Seoul.
CO: Mr. Selby, how did you react? What did you say when you learned about these gold nuggets and that discovery?
MARK SELBY: Yeah, no, it was — it was exciting. I literally had woken up in the middle of the night Monday evening and picked up my phone and checked an email and saw the first email that indicated we thought we might have four or five thousand ounces come out of this discovery. And needless to say I didn't get back to bed last night. But we've made one of the, we think, one of the best gold discoveries in Western Australia and, you know, the scale of the grade and the specimen stones that have come out we think makes it one of the more exciting gold discoveries in a very, very long time anywhere in the world.
CO: How big are they?
MS: The biggest one is a 95-kilo specimen that has, we believe, over 2,400 ounces of gold in it. To give you some context, that's the largest nugget, I mean this isn't a nugget, it's gold stuck in rock — is about 2,200 ounces — that's worth four million dollars just the gold content alone.
CO: And what’s the other one? What’s the other guy?
MS: The other ones about 65 ounces, so it's 1,600 ounces, so that's two and a half million dollars in today's currency. To give people context, out of about your living room, we pulled out 15 million dollars worth of gold or about 9,000 ounces. The typical gold mine today is mining gold rock that contains about one part per million or one gram per tonne gold and so a typical mine would have to mine 300,000 tonnes to get the same amount of gold that we just pulled out this week.
CO: You've got two rocks that are worth 15 million dollars?
MS: No two rocks that are worth six or seven, and then we pulled out by hand and shipped another bunch of rock directly to the Perth mint to be processed for a total of 15 million dollars.
CO: But you weren't even mining for gold at this mine.
MS: Well the history of the mine is that it's a nickel mine. But when we bought it the gold potential was there so we've started mining over the last little while, and historically up against the nickel deposits at the top of the mine they would pull out a few hundred ounces of these high grade specimens stones in the 70s and 80s. And we pulled them out the first few times we started mining nickel when we picked up the mine in 2016. But what's really exciting is we've identified these new structures, which concentrates the gold just like it does up at the nickel contact and we pulled out about 1,500 ounces from one area at the end of June and two months later pull out 9,000 ounces. So our team at the site has done a great job of figuring out how the gold zone interacts with this particular type of sediment and it has done a good job of zeroing in on it. So we have kilometres of strike length of potential to find more of these jewellery boxes.
CO: So this is just the tip of your golden iceberg then?
MS: That's a great analogy, yes. We hope there's a very big iceberg underneath that tip.
CO: What do you do with them? You don't just take down to the market and sell it. What happens now with rocks of that worth, that value?
MS: Yes, so we have two paths. So, you know, obviously rocks that valuable we make sure to get them off site as quickly as possible. The grade great content of the gold on average of what we pulled out was shipped off was about 80 per cent gold. So those go directly to the mint to be processed through that high grade enough. And then anything that's particularly beautiful we'll keep as a specimen stone and sell to collectors. These two big ones obviously are very unique so we're going to go through an extended auction process here to be able to identify a global buyer and hopefully generate a few million dollars more for the company.
CO: So you have a license to do this mine. Does Australia get anything from it?
MS: Yeah Western Australia has a royalty on all minerals that are recovered from any mine in the area. So the Western Australian Government just got two-and-a-half per cent of everything we found this week.
CO: How much do you think you got? I mean, getting back to the size of this iceberg or jewellery box whatever you want to call. What do you think you're sitting on?
MS: Well, again using the living room analogy, so we pulled out this gold out from about five metres and we pulled up 1,500 ounces from a place that was about 30 metres away and we literally have a couple kilometres of strike length across multiple structures to be able to go looking for more of these. So we don't have to find them too often to add up to a very, very large number of ounces. So it's very, very exciting.
CO: So what has this done for RNC Minerals, for your company? What's happened to its stock value?
MS: The share price has more than doubled today and we've traded about 15 per cent of our volume and then we're having a conference call tomorrow to explain in more detail about the exploration potential that's there. So hopefully this is the, you know, we'll see more people who find out more about the potential and get us excited about it as we are will hopefully buy some more stock and we'll see further improvement in our share price.
CO: I suspect you're a happy man tonight?
MS: I am a very happy man. It's been a very happy week.
CO: Is there a horseshoes someplace that you think you can attribute to this?
[LAUGHTER]
MS: I was wondering why is he feeling a little bit uncomfortable. That must have been it.
[LAUGHTER]
CO: Well, I wish well and congratulations on this. Thank you.
MS: Thanks very much. Have a good day.
JD: Mark Selby is the president and CEO of RNC Minerals. He was in Seoul, South Korea. If you’d like to see some photographs of that glittering rock of gold. You can do so at: www.cbc.ca/aih. »
-Eric Sprott on the week behind us transcripts, his due diligence:
Eric Sprott on the week behind us. -Weekly Wrap-Up (September 14, 2018)
Craig: Eric, let's end the week on kind of a fun note. There was some news this week out of Australia. It doesn't have anything to do with the Pilbara, which you and I talk about quite a bit. But there was discovery of the largest gold nugget ever found, at least so far on planet earth. Made some headlines. It's an interesting story, and I know you've got some details on that too.
Eric: Well, the most humorous thing about it is, this was found by a company called Royal Nickel. Which I happened to be a big owner of because they had found things like this before at a different level in the mine, okay? And I thought, well, this could be big and they were mining nickel and gold. And so I was a pretty big shareholder. And if you'd asked me two weeks ago where this stock was going, I would've said, you know, they have a shot at going broke here. And then all of a sudden there's this announcement on I guess Sunday night or Monday morning that they had a blast in one of the holes and over a 3 meter by 3 meter by, I don't know, 2 or 3-meter blast that they recovered 9,600 ounces, which is an incredible. It was something like 70 ounces a ton, 70 ounces a ton. Unheard of.
And these are beautiful nuggets. In fact, they are so beautiful that they will either be sold as nuggets or they will be held by the Australian authorities. Now so with the company called Royal Nickel, it's listed in Toronto and their symbols are RNX. The company had a webcast on Tuesday. The webcast is available. I suggest any serious investor should go and look at that webcast and see what they're saying and I'll try to paraphrase it for everyone. So they were mining at a level and they said, well, maybe we should go down to this level down here because we have a sediment that goes across on a lateral extent that could cause gold to precipitate into what's called the [inaudible 00:14:09] sediment. And, sure enough, they go down there and wow, this is where they had this discovery. And they've said in their presentation that this sediment is omnipresent at that level throughout their tenement.
What happens is, where the sediment meets a structure that had been metal bearing, where it meets that structure gold seems to precipitate in very large quantities. And they have struck at least two two-kilometer structures, okay? So there's a big potential here that this is not going to be a one-off. It's already sort of the biggest discovery in a small amount of tons that the world has ever witnessed. And it is the world's largest nugget now. So it would be worthwhile for people to think about whether this is likely to carry on. The suggestion in the webcast is that it does carry on. So we're all going to stand by and find out if we have a world major discovery here. We'll see.
Eric Sprott on the weak U.S. dollar -Weekly Wrap-Up (September 21, 2018)
Eric: I also want to talk about RNC minerals. That's the company that I might've mentioned it a week or two ago that found these huge nuggets in Australia. And they said, hey, we come down to 600 ounces of nuggets, in one blast and on what day would have...on Wednesday. I guess they came out and said, well, it's not 9,600 anymore. It's now 24,000 ounces that they've taken out of this one little pocket here. And of course, now the stock's up 500% from where it was trading at about a month ago with seven cents.
But that's a lot of money. And the funny part is the stock didn't go up as much yesterday as the value of the announcement. In other words, they announced they found an extra 50 million ounces, which is worth about close to $20 million US. Stock didn't go up by $20 million. So, God forbid that they continue to find this pile of gold along the many kilometers of structure that they have, and I can't say that they will or won't, but it's a new sort of geological interpretation in where this sediment meets a structure, the gold is in place and we're only just...this was our first foray into the structure, so it will be rather interesting.
I announced yesterday that I went to 10% on the stock, so that's public information. You got to do your own due diligence here, you know. These things are all punts in a way. You've got your fingers crossed. You got to guess at where it's going to go. I don't know where it's going to go, but you guess, what's the upside versus the downside? And you have to make up your own mind. So That's interesting.
Eric Sprott on the state of U.S. politics - Weekly Wrap-Up (September 28, 2018)
Now I want to close off with the RNC Minerals and they're the ones that have come up with these huge gold boulders in Australia.
And, they put out a release, I guess last week showing connectivity between what they call their level of 15 up to their level 14 where they said if it goes 180 meters of striking about 20 meters of vertical elevation which I think really opens things up here that you could have that kind of size in terms of the deposition of gold over such a big area. I always imagined that, you know, we had this sediment that caused gold to sort of puke out in a way, but it wouldn't be that extensive. But it sounds to me like it's much more extensive. They have these forest structures that go two kilometers along and below them all is this sediment which is causing the gold to spill out. So, you know, fingers crossed, it could be a very major discovery. Some people are even imagining it could be the discovery of the century for them to say, "Well, it's already got the biggest coal boulders ever, ever. I mean, it is very, very unusual."
So, and the sort of rumblings we get from the mine site is that they keep, you know, blasting and finding large amounts of gold. So, it's a very interesting thing. There's lots of great information. I would recommend that people go to the website, for example, ceo.ca. There's some wonderful posters there who do a great, great job of trying to keep people informed as to the progress down there. So, that's been very exciting for us. I think I first mentioned it might've been 20 cents. It went to $1.15 down at 80 cents now, but it sure looks like it could carry the day for us.
Craig: Eric,that was a great comprehensive update. You know, I don't know a lot of geological stuff and it's great to hear it. The one thing I'm pretty sure though, is puke out a geologic term?
Eric: I don't know, but I hope they keep puking. I mean, I couldn't believe the gold that those guys found in those nuggets. That was incredible.
Craig: Pretty remarkable stuff.
Eric: There's all these pictures on the website of these, you know, huge gobs of gold. And like it's very...and this is an incredibly unusual discovery, which I think that first boulder that had 2,600 ounces in it made the whole statement. And who's to say, you know, we got eight kilometers of strike for drill on here. So, it could be very interesting.
Eric Sprott on gold’s great week - Weekly Wrap-Up (October 12, 2018)
I also visited the Beta Hunt Mine that's owned by RNC Minerals, that's the one that where they came out and said they think they'll find 30,000 to 35,000 ounces in the Father's Day vein, they've subsequently come out and says it looks like this thing extends quite a bit further. But there's no tangible results going along the sedimentary structure that they have found more yet, not that they've drilled it by the way, so we can't expect anything yet.
But I just... If this comes together that there is a lot of structure to be mined down there, they mean they have eight kilometers of structure, the sedimentary zone goes through the whole eight kilometers. We don't know how well it won't be endowed, I mean, it's not going to be like the Father's Day vein, because that would just be impossible that something would be that great, it was unheard of the amount of ounces they pulled out of there in such a short time. So, we'll have to stand by and see if they can do a little drilling, and then prove that this thing will have multi-ounce potential along the strike of that paretic [SP] zone, but I think there's reasons to be optimistic on that front.
Eric Sprott on the state of the markets - Weekly Wrap-Up ( October 26,2018)
Craig: And Eric, just quickly here as we wrap up, one of the companies that we've spoken about in the last couple weeks is this RNC or Royal Nickel, and these massive gold nuggets, people have probably seen the stories in the news about the largest gold nuggets ever on earth. They had some earnings there and some statements they put out this week, and I know you kind of want to touch on that too.
Eric: Sure. Well, they brought out a news release, which was I think poorly worded, and I still I'm not sure exactly what it said. And believe me, I've read it 20 times where they said the grandfather's vein produced, whatever, 27,000 to 30,000 ounces, and the extra 540 meters beyond the first 10 meters will produce 35,000. They didn't say an additional 35,000, just 35,000. So anonymous, not which one they meant. You know, they meant the total of 35,000 between the 2 things in which case would be a big disappointment. Did they mean an extra 35,000, which I don't think they really meant to be honest because, you know, how would they know it would be that number?
Craig: Yeah.
Eric: But here's the interesting thing that everyone should give some thought to. A cubic meter of gold weighs 19 tons; therefore, a ton of gold is one-twentieth...one-nineteenth of a cubic meter. That's a meter by a meter by about 3 inches, 3 inches. Now, if you look at that grandfather vein and maybe it's two feet wide, it's not all gold, but you can see what a small, little...and they found a ton. What a small little area, you can find a ton of gold in. And the key question with RNC is, have we unleashed a new depositional model for gold? And there's some thought that it is a new depositional model, it hasn't been proven, but I can tell you that there's probably four or five different places on that property where they have seen that kind of manifestation before at different levels and in different structures, and, of course, they got four structures that I think on average each go like four kilometers.
So we got a lot of opportunity to see whether we're going to have a new theory. I'm about to read a paper on the weekend which will be a heavy duty geological paper which you won't understand. I'll try. I'll try to summarize it for the layman as I hope it summarized for me the layman, just about how that gold did manifest itself down there. So hopefully I might have more to report next week. But I find it intriguing to study what's going on down there and I'm trying to make sure that if it's going to be different, if it's going to be different, that one takes advantage of it. Because if it works it's a multi-bagger, if it doesn't work, maybe you lose 50% of your money. But the multi-bagger is a lot better, you know, if you get enough of them you don't mind losing 50%. So we'll see where it goes. I tend to be...you know, I'm getting into the believer camp so we'll see where it all takes us.
https://www.sprottmoney.com/Blog/category/sm-radio.html
The million-dollar question: How significant will the core results be? If the results are significant, the CEO and Stockhouse boards, already top viewed ones, will light up! Moreover, if the results are excellent, media sites on a global scale will relay the information. Also, those on the sidelines of RNX and there are great many, will finally buy the stock. Let’s not forget that the initial Father’s Day find was relayed globally on big media outlets and that RNX is on three stock exchanges and likely four soon, and this will in turn facilitate International institutional investments.
