RNC Minerals (Royal Nickel)
RNC Minerals (Royal Nickel)
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Australia’s gold output for the Mar 2020 qtr has fallen 12% to 77t on Dec 2019 with many operators taking advantage of higher prices in 2019 and early 2020.
Canada-based RNC Minerals has started the 2020 year with Mar 2020 qtr (Q1 20) gold production from its integrated Beta Hunt underground mine/treatment plant and Higginsville open cut operations near Kalgoorlie in Western Australia, down to 24,816oz from Q4 19’s 26,874oz.
The result came despite significant logistical challenges posed by the Australia bushfires and inclement weather across WA in Jan, but no interference as a result of the COVID-19 virus, to remain on track for FY/CY20 90,000oz-95,000oz at AISC $US1,050oz-$1,200oz.
Western Australia-focused RNC Minerals has cut its Dec 2019 year (FY/CY19) net loss to $C6.9M from the previous year’s $8.4M loss on overall increased gold production from its 2 WA operations led by the recently acquired Higginsville gold mine/mill operations.
Lower Beta Hunt gold production, off-set by a 1st up H2 19 16,635oz from recently acquired Higginsville cuts RNC FY19 loss to $6.9M
Canada-based RNC Minerals has outlined a maiden 310,000oz gold reserve at its nickel-to-gold Beta Hunt mine at Kambalda, near Kalgoorlie in Western Australia.
The reserve, within 3.4Mt at an average 2.8g/t, forms the basis for Beta Hunt's mine plan, which schedules base-load feed to the company's 100% owned, 1.4Mtpa Higginsville treatment plant. The 2P reserve does not account for the potential for high-grade coarse gold occurrences, such as the high grade Sept 2018 Father's Day Vein discovery.
Analyst flags Dec 2019 qtr Australian gold output rise after Sept qtr fall as local gold mine control doubles to 60% from 2002
Canada-based RNC Minerals has managed to cut its 9-months 2019 YTD (YTD19) net loss to $C19.8M from YTD18’s $21.2M loss, despite gold production from its 2 Western Australia operations sliding to 37,403oz from 42,623oz, with sales sliding to 36,867oz from 43,291oz at cash costs down to $US1,123oz from $1,157oz, but AISC up to $1,268oz from $1,193oz.
Despite a fall in YTD19 gold production, RNC has managed a small loss cut to $19.8M
RNC Minerals has come up with another bonanza grade gold discovery at its nickel-to-gold Beta Hunt Mine at Kambalda in Western Australia -- 1,750oz of coarse gold from 274kg of rock.
The discovery was on the 16-Level A Zone, 160m south and 25m below the Sept 2018 Father's Day Vein discovery and on the same level as the high-grade gold mined in June this year.
The discovery of first mineralisation at only 3m depth has been an additional boost for RNC Minerals as it begins mining the Baloo Stage I openpit, the first of a planned series of shallow operations to feed its Higginsville Gold Operations in Western Australia.
Initial material processed at the HGO mill has graded 1.8-2.8g/t. Baloo’s first stage is expected to supply about 30,000tpm to year end, with potential for further expansion, and permitting is also under way for the Baloo Stage II operation.