RNC Minerals (Royal Nickel)
RNC Minerals (Royal Nickel)
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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.
RNC Minerals June 2019 qtr (Q2 19) loss has blown out to $C16.2M from Q1 19’s $3.3M loss, despite production from its nickel-to-gold Beta Hunt mine at Kambalda in Western Australia jumping to 11,056oz from 3,716oz on a gold mined grade down to 2.59g/t from 3.36 g/t.
RNC Minerals has lifted measured/indicated gold resources at its bonanza Beta Hunt gold-nickel mine at Kambalda in Western Australia 395% to 944,000oz contained and inferred resources 195% to 406,000oz at a low discovery cost of $A7.30oz.
Consolidation of its asset portfolio on Murchison region assets has seen West Australian miner Westgold post June qtr (Q4FY19) production of 66,952oz at AISC of $A1,336/oz, delivering FY19 output of 255,221oz (FY18: 253,210oz). AISC was $A1,408/oz ($1,463/oz).
After completing its exit from the Kalgoorlie region with the June 2019 sale of the Higginsville Gold Operations to RNC Minerals, Westgold operates three assets including processing plants in the Central Murchison goldfields.
(COMMENTARY)
The second major discovery of coarse gold at the historic Beta Hunt nickel mine in the Kambalda region of Western Australia underlines Canadian-based miner RNC Minerals’ confidence it has cracked the code of a rare coincidence of adjacent but distinct mineralised zones.