On the basis of these resource estimate updates, RNC Minerals plans to complete a gold reserve estimate at Beta Hunt mine that we expect will support resumption of full-scale production at Beta Hunt in Q4 2019.
… Expansion Potential
At this stage, however, following the recent acquisition of the Higginsville Gold Operations (HGO), the balance of the Beta Hunt exploration drilling program is to be deferred while exploration and resource definition activities will be focused on opportunities for short term additions to the resource base at HGO.
Well, it looks like I TOO will be in a position to accumulate MUX, haha! But, from all the things I read, which are consistent with what you were saying (Traderich), I’m very confident things will turn around over the next year - and will certainly share if/when I see anything positive.
If we get a significant adjustment in the stock market in the weeks ahead like I suspect then I think that will buoy the POG for awhile. OTOH if we get a Trumpian miracle and stocks rally that’s different
TORONTO, Sept. 6, 2019 /CNW/ - RNC Minerals (TSX: RNX) (“RNC” or the “Company”) is pleased to announce gold production for the month of August 2019 of 8,104 ounces. Paul Andre Huet, Chairman & CEO, commented: "August gold production of 8,104 ounces is further evidence of a strong start to the second half of the year, with total July-August production of 15,977 ounces. Material processed during August was comprised of Beta Hunt mined material, mined material from the Baloo Stage I open pit and run of mine stockpiles.
I had reached out to Inventus (Stefan Spears) to find out the status of the bulk sample program that I, and probably all other Inventus shareholders, were REALLY looking forward to this summer. I got the following detailed response from chief geologist Wesley Whymark:
*This is Wesley Whymark, chief geologist with Inventus. I have started answering emails on the info@Inventus account. *
*We were all looking forward to the bulk sample. We have had the 007 zone drilled since mid December of last year. It is very disappointing but since the gold price has risen the area has become even more valuable. *
The reason is both cost and tailings. The black fox mill (BFM) has net neutral tailings and since our ore has pyrite in it, it would be acid generating. They took the 1st 1,000 tonne bulk sample as a favor. Many deposits are acid generating so its not a problem. We could still use the BFM, however, they are concerned about the sulfide and would like to have a gravity and flotation circuit in place. We did testing (see press release july 9th 2019) and we have 0.05% sulfide in the ore after gravity plus flotation so it would not be acid generating after that type of mill circuit. We are currently working on a solution with the BFM to have a gravity + flotation circuit in place.
We have been looking for other mills in the mean time that have a gravity + flotation circuit already in place, however, they have been unreasonably priced or to far to ship our ore too. We our still looking for other mills in the area that are under capacity and have a few other options we have engaged. Hope this answers your question.
*On another note we have been making very good progress on our Sudbury 2.0 Project, which is an excellent “world class” type deposit environment. *
If you have any other questions just let me know. I will be spending time in the field prospecting and mapping the Sudbury 2.0 property but will find time to answer any questions.
Reading back at the July 9 press release, I guess all the hints were there about what the company was doing, though I completely looked past it at the time because I’m not a geologist and it just seemed the company was reporting on general progress. It’s not as if it would’ve changed my investment strategy with Inventus…I’m holding this as they prove up the property and until the inevitable buyout occurs. So there’s not much that shareholders can really do about this situation except wait it out.
On a positive note, insiders continue to accumulate on a regular basis:
TORONTO, Sept. 24, 2019 /CNW/ - RNC Minerals (TSX: RNX) (“RNC”) is pleased to announce that additional high-grade coarse gold has been recovered at its Beta Hunt Mine in Western Australia.
An estimated 1,750 ounces of coarse gold has been recovered from 274 kg of rock (see Figure 1)1. The discovery occurred on the 16 Level A Zone, 160 metres south and 25 metres below the Father’s Day Vein discovery and on the same level as the high-grade gold mined in June 2019 (see Figure 2 below for a long section showing main section of A Zone).
Unigold Inc. (TSX-V: UGD, UGDIF)
Still very thinly traded. Not much of a tradable stock for now. May want to include on a watch list.
Just a followup, really, as I haven’t followed this one at all since I posted and took a position a couple years back. Had to notice when yesterday it really popped! This one trippled since a low of 0.085 back in May. I guess it makes a difference when Eric Sprott takes a 10% position. Still has a long way to go.
Solid Production Performance For RNC Minerals September Gold Production Of 8,239 Oz Drives Strong Third Quarter Production of 24,216 oz
TORONTO, Oct. 7, 2019 /CNW/ - RNC Minerals (TSX: RNX) (“RNC” or the “Company”) is pleased to announce consolidated gold production of 8,239 ounces for the month of September from its Beta Hunt and Higginsville mines in Western Australia. This is the third month of consistent production following the acquisition of Higginsville and brings total gold production for the third quarter of 2019 to 24,216 ounces. These figures do not include the estimated 1,750 ounces of coarse gold recovered from the Beta Hunt Mine in late September (see RNC news release dated September 24, 2019). http://www.rncminerals.com/2019-10-07-Solid-Production-Performance-for-RNC-Minerals-September-Gold-Production-of-8-239-oz
TORONTO, Oct. 15, 2019 /CNW/ - RNC Minerals (TSX: RNX) (“RNC” or the “Company”) is pleased to announce that for the six month period ending December 31, 2019, management is targeting production of between 42,000 to 49,000 ounces of gold at an average all-in-sustaining-cost (AISC)3 of US$1,150 to US$1,250 per ounce.
The way I figure it that leaves a profit of about $13,500,000 for the last 6 mos. of the year.
TORONTO, Oct. 17, 2019 /CNW/ - RNC Minerals (TSX: RNX) (“RNC”) is pleased to announce that another high-grade coarse gold discovery has been made at its Beta Hunt Mine in Western Australia.
An estimated 3,200 ounces of coarse gold has been recovered from the 15 Level A Zone approximately 30 metres north of the Father’s Day Vein that was uncovered last year (see RNC news release dated September 9, 2018). Work was being undertaken in the area in preparation for stope production which is expected to take place late this year or early next year.
Paul Andre Huet, Chairman and CEO commented: “This is yet another example of Beta Hunt delivering rich pods of high-grade coarse gold. This high-grade occurrence is within 30 metres of the Father’s Day Vein discovery announced last year. We anticipate mining stopes in this encouraging area towards the end of 2019 or early 2020. These high-grade gold occurrences provide additional cash generation beyond what is forecasted by our steady state mine model, which excludes these high-grade zones.”
I think Prophecy will soon pop to 55 cents. Huge long term potential IMO.
Prophecy Development Corp (TSX: PCY, OTC: PRPCF) has advanced top-tier silver and vanadium projects.
Prophecy’s Pulacayo silver project features top-tier diamond drill intercept of 1,030 g/t Ag over 25 meters, a starter resource 31 million indicated oz at 455g/t, 21 million oz inferred*. Only 30% of the known mineralization is drilled. Pulacayo is near New Pacific’s Major Discovery, Selling for a fraction of NUAG’s valuation.
Prophecy specializes in mine permitting, construction, and operations.
These are quite impressive drill results. Recently tripled in price from summer and now retracing. The current political environment in Bolivia is very unstable however.
Still in these? Both were brought to thread’s attention a few years back. Both really took a hit this past year down 50%+ It seems producing miners are garnering the most attention. Both companies are in exploration stage burning cash. I picked up some GGI.V this morning due to the drilling results reported in Yesterday’s (Nov 4) news release.
Garabaldi is a long-term hold in my portfolio worth keeping an eye on. It is quite far from production, however.
Also added to a position in Fortuna Silver Mines (FSM) which seems to be completely out of favor and down more than 40% since September. It is a producing miner, but it missed estimates for current Q3. It looks to have good to very good growth potential, IMO. Worth taking a look and adding to watchlist for anyone looking for potential ideas. Additional ideas and DD for other miners have been mentioned on this thread over the past few years. Anyone have new ones to add, or is everyone just too worn out on the disappointing main thread?
Garibaldi Follows New High-Grade Pathways Below Lower Discovery Zone at Nickel Mountain
Crews have just completed drill hole EL-19-80, the 34th of this season, as they continue to expand the scale of Northwest British Columbia’s first nickel-copper-rich magmatic sulphide system in all directions. This update includes assays for 11 additional holes through EL-19-61, following previously reported EL-19-53, EL-19-48 and EL-19-47. Jeremy Hanson, Garibaldi VP-Exploration, stated: “Many more assays are yet to come. 2019 will unquestionably be our most productive and significant season yet at Nickel Mountain.”
Drill hole EL-19-54 cut four separate intervals of massive sulphide mineralization totaling 9.7 meters core length, at depths starting from 35 meters, 82 meters, 114 meters and 147 meters, including 4.9 meters grading 5.46% nickel and 3.21% copper. This important hole extended the Upper and Lower Discovery Zones westward and, significantly, intersected 51.2 meters of disseminated nickel sulphide mineralization in a chamber starting 290 meters downhole.
Additional information is in the news release.
Assay results include result of Ni, Cu, Pt, Pd, Au and Ag.
Royal Nickel Corporation - RNC (RNKLF) Q3 Report is out:
RNC Announces Strong Third Quarter 2019 Results Including Production Of 24,216 Oz, Adjusted Earnings(2) Of $8 Million And Reiterates Second Half 2019 Guidance
Third Quarter of 2019 Highlights
Third quarter 2019 consolidated gold production of 24,216 oz and AISC2 of US$1,183/oz
Announced second half 2019 production and cost guidance of 42,000 – 49,000 ozs at AISC of US$1,150– US$1,250 per oz
Third quarter 2019 was the first full quarter of processing material at RNC’s 100% owned Higginsville Mill achieving a 35% reduction in milling costs (now A$29/t vs. prior $45/t while toll-milling)
Generated adjusted earnings2 and adjusted EBITDA2 of $8.0 million and $9.1 million, respectively
Strong quarter-end cash balance of $24.8 million and positive working capital of $12.2 million
New management appointments to strengthen gold-focused team
Additional high grade coarse gold discoveries announced at Beta Hunt of 1,750 oz (see RNC news release dated September 24, 2019) and 3,200 oz (see RNC news release dated October 17, 2019)
Strong exploration results reported outside of Baloo open pit 8.7 g/t Au over 3 meters from 63 meters downhole in drill hole BLOR003 (see RNC news release dated October 15, 2019)
Reported increased resource at Beta Hunt: 395% increase in the global measured and indicated resource to 944 koz (10,104 kt @ 2.9 g/t Au) and 195% increase in the inferred resource to 406 koz (4,109 kt @ 3.1 g/t Au) at a low discovery cost of A$7.30 per oz
Maiden Proven and Probable gold reserve at Beta Hunt on track to be delivered in 4Q19
RNC Minerals (TSX: RNX) (“RNC”) is pleased to announce senior management will host a conference call / webcast on November 6, 2019 at 10:00 a.m. (Eastern Time) to discuss the corporation’s third quarter 2019 results. The access information is provided below.
RNC plans to issue a news release containing third quarter 2019 results before markets open on Wednesday, November 6, 2019.
A recording of the conference call will be available for replay through the webcast link or for a one-week period beginning at approximately 1:00 p.m. (Eastern Time) on November 6, 2019, through the following dial in numbers:
North American callers please dial: 1-855-859-2056; Pass Code: 7829328