Ann: Westgold to Sell Higginsville Gold Operations to RNC, page-6

It seems a reasonable deal for both parties given their respective positions, so long as Beta Hut high grade ore is within reasonable trucking distance to the plant. RNC could blend the higher grade ore with the lower grade currently being mined and become fairly profitable over an extended period.

RNC currently does not have a lot of money - they raised CAD9m in early 2019, so they need to raise a heap more to get the deal consummated. I believe there is some institutional backing for RNC in Canada so perhaps they could raise another CAD40-50m if they can convince their backers of the plan.

Anyway, the WGX share price has come alive a bit this morning, but its probably mainly catch up on what the other producers have done since the trading halt.

If WGX gets its hands on the cash from this deal it may feed them for perhaps another 4-5 months - I doubt they can sell the RNC shares for 6-12 months otherwise they would tank its share price. I wonder what subsequent great sales deals The Cookie can concoct to keep the dream alive just a bit longer.

loki (a bit of hopium for WGX, but its "show me" time as far as the market is concerned.)