TORONTO, ONTARIO (July 9, 2019) - Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) is pleased to provide details of recent metallurgical work on its 100% owned Pardo property 65 km Northeast of Sudbury, Ontario. The test work was conducted by SGS Canada at their metallurgical lab in Lakefield, Ontario.
The metallurgical test work was conducted on a representative mineralized conglomerate from the 007 Zone (the “Test Sample”) where the first phase of bulk sampling is planned.
Highlights:
The Test Sample head grade was 6.4 g/t gold .
A combination of gravity and flotation resulted in 95.2% gold recovery at a 5% mass pull, with a tail assay of 0.3 g/t gold.
Gravity concentration alone resulted in 42.8% gold recovery at a 0.08% mass pull, and a concentrate grade of 3,087 g/t gold.
Environmental test work on the gravity plus flotation tails returned <0.05% sulfur and indicated residues would not likely be acid generating.
These results are very encouraging because it establishes that gravity and flotation processing is probably the preferred treatment method and effectively manages potential environmental issues.
“Our objective with this work was to demonstrate that material from Pardo can be processed at a variety of process facilities. We discovered that low cost gravity plus flotation is highly effective at producing two gold concentrates that would be readily marketable, and that any environmental concerns about the resulting tailings are alleviated,” stated Stefan Spears, Chairman and CEO.
About Inventus Mining Corp.
Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal asset is a 100% interest in the advanced exploration stage Pardo Paleoplacer Gold Project located 65 km northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has 110,301,069 common shares outstanding (123,925,235 shares on a fully diluted basis).
Right now Inventus is an excellent price to take a position IMO. It’s been flat and uninteresting in the “off season”, but they have their summer bulk sample program forthcoming and all indications from past exploration and recent testing indicate the likelihood of excellent results which should elevate the share price from currently deflated levels. I may add more if the price continues to lag.
Also, Inventus CEO Stefan Spears was just promoted to VP of Corporate Development at McEwen Mining. He will continue as CEO of Inventus as far as I know. With Rob McEwen owning 19% of IVS, it is essentially a satellite company for MUX which will be acquired in due time depending upon exploration results. This summer program is pivotal!
RNC Minerals Announces that Mark Selby has Resigned as President and CEO; Paul Andre Huet, Executive Chairman has been Appointed as Interim CEO
SOURCE RNC Minerals
TORONTO, July 18, 2019 /CNW/ - RNC Minerals (“RNC”) (TSX: RNX) announced today that Mark Selby, President and Chief Executive Officer (“CEO”) has resigned for personal reasons from the Company effective immediately. Paul Andre Huet, Executive Chair of the Board, has been appointed Interim CEO.
“Mark Selby has been instrumental in the growth of RNC Minerals to establish the Company to where we are today. On behalf of the Board of Directors, I would like to thank Mark for his efforts and many accomplishments,” said Paul Andre Huet, Executive Chair of the Board and Interim CEO of RNC Minerals. “RNC is well-positioned for growth and success. With the Beta Hunt gold mine and the recent acquisition of the Higginsville Gold Operation, we have transformed our Australian operations into a multi-mine gold operation. Our asset in Canada, the Dumont Nickel-Cobalt Project, is well-positioned to capitalize on the development of the metals required for the growth the electric vehicle segment. As Interim CEO, I look forward to working with management and the Board to pursue our priorities and to generate value for shareholders.”
“RNC is in an excellent position today thanks to the hard work of the entire team over many years,” said Mark Selby. “I look forward to watching the future growth of RNC and wish the team every success.”
Paul Andre Huet has more than 30 years of mining industry experience with a proven track record of building shareholder value. He served as President, CEO and Director of Klondex Mines from 2012 to 2018. Prior to this, he served as Chief Operating Officer of Premier Gold Mines. He serves on the inaugural Board of Havilah Mining Corporation and has also served on several non-profit and publicly traded company boards. Mr. Huet earned an Honors degree in Mining Engineering Technology from Haileybury School of Mines in Ontario and completed the StanfordExecutive Program at the Stanford University School of Business.
About RNC Minerals
RNC has a 100% interest in the producing Beta Hunt gold mine located in Western Australia where a significant high-grade gold discovery - “Father’s Day Vein” - was made. Beta Hunt gold resource potential is underpinned by multiple gold shears with gold intersections across a 4 km strike length which remain open in multiple directions adjacent to an existing 5 km ramp network. RNC has a 100% interest in the Higginsville Gold Operation in Western Australia, which is comprised of a low cost 1.3 Mtpa gold mill and a substantial portfolio of gold tenements. In addition, RNC owns a 28% interest in a nickel joint venture that owns the Dumont Nickel-Cobalt Project located in the Abitibi region of Quebec which contains the second largest nickel reserve and ninth largest cobalt reserve in the world. RNC also owns a 24% interest in Orford Mining Corporation, a mineral explorer focused on highly prospective and underexplored areas of Northern Quebec. RNC has a strong management team and Board with over 100 years of mining experience. RNC’s common shares trade on the TSX under the symbol RNX. RNC shares also trade on the OTCQX market under the symbol RNKLF.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RNC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to RNC’s filings with Canadian securities regulators, including the most recent Annual Information Form, available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and RNC disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
It appears that this is a favorable change per reading various shareholder discussions about it. Most are glad to see him go. Continues to be some discussion about a buy out from Kirkland Lake who already has a position in the company. Honestly, not sure why they wouldn’t buy them out. Waiting patiently for another big gold boulder to be found/announced.
Specifically, for good insight on RNX, you may want to follow the posts of “mikeymike426” on ceo.ca. CEO.CA | @mikeymike426
He runs https://insidexploration.com/. He has visited the deposits and speaks with RNX management. Generally regarded as the most knowledgeable non-insider on RNX.
If you go back and look at recent news for MUX they had some issues which slowed production and missed some numbers. From what I’ve read they’ve already got those things handled. I’ve been accumulating MUX for close to a year and have a 20k position at 1.71 with no intention of selling anytime soon.
As for the market, that formation I discussed is now showing breakdown, but it’s a weekly chart so have to see how the week plays out. If I’m able I’ll post an update when next weekend is upon us.
Well, the last time I invested in a greenfield exploration company, I got my arse handed to me (MDMN - bwahahaha!), so I’m trying to at least get a LITTLE more conservative these days and believe that MUX is a solid one, for the long run anyway, as I believe Mr. McEwen is sufficiently invested in his own company and isn’t fleecing all the shareholders. Thanks for your point of view!
I’ll update as I can, but I don’t have the time now that I once did. I posted the latest charts because that rising wedge is typically a bearish formation and it’s huge, so if it does play out the way they typically do we’re in for a significant pullback. This large bounce we’re getting could easily be to lull the bulls back into the market only to hammer them with some more negative news in the near future. Today’s rise took us up to test the 130 MA on the daily interval chart (posted). There is a push up through it so we’ll see how the close looks. At this time I would expect ES will close right on or below it.
I use free charting software at www.tradingview.com and those are the charts that I typically post here because they’re easier to use for posting here than my broker charting software. One of the problems though is that the moving averages I use on my broker software don’t show the same readings as on the tradingview software. For example, the daily 130 MA on tradingview for ES is at 2871.86, whereas on my broker charts it’s reading at 2876.50. ES closed at 2876.00 today… above the 130 MA on the tradingview chart, but below the 130 MA on my brokers charts. I tend to trust the broker data more. The way those charts look, we closed at resistance on a couple time frames, leading me to think we move lower from here. The overnight trading and open will give a better indication, but I probably won’t be doing much posting tomorrow unless it’s in the afternoon/evening.
