RNC Minerals hails strong gold production rates from Beta Hunt in third quarter

RNC Minerals (TSE:RNX) (OTCMKTS:RNKLF) unveiled strong production rates from its Beta Hunt and Higginsville mines in Western Australia, saying 8,239 ounces of the yellow metal was produced last month (September). 

It was the third consistent rate of output and brings total gold production for the third quarter this year to 24,216 ounces.

READ: RNC Minerals recovers more high-grade gold from Beta Hunt mine in Western Australia

“We are focused on delivering steady gold production from our two mines and are extremely pleased with this performance following our transformational acquisition of the Higginsville mine and mill in June,” said Paul Andre Huet, chief executive and chairman at RNC.

“Our third quarter results are the direct result of the new team we put in place coupled with our newly outlined gold-focused strategy at RNC, and we look forward to continuing to deliver steady production.

“I would like to thank our teams at both Beta Hunt and Higginsville for their outstanding performance thus far as we continue to integrate the two operations into one unit. The future looks bright; we need to maintain the momentum and aggressively reduce costs on all levels.”

Material processed during September was mostly comprised of Beta Hunt, Baloo Stage I and a small amount of Mt. Henry stockpile material.

In June this year, the group closed the Higginsville mill (HGO) acquisition from Westgold Resources Ltd for A$25 million in cash and issued 56.9 million shares.

Reducing costs

The firm said the plant would significantly reduce milling costs for the firm’s Beta Hunt mine, while HGO also includes a 367,000 ounce historical reserve within a 1.2 million ounce historical measured and indicated gold resource on a 386 sq km land package in the Kalgoorlie gold region.

RNC Minerals said Monday that the 1,750 ounces of high-grade coarse gold recovered in late September is expected to be included in the October production once the gold has been poured into dore bar or sold.

These 1,750 ounces were found just 160 metres south and 25 metres below the Father’s Day vein discovery made last year, which saw the company pull out two nuggets containing 4,000 ounces of gold as part of a discovery totaling 9,250 ounces.

Beta Hunt, in Western Australia, is the company’s flagship gold asset.

Contact the author at [email protected]

Story by ProactiveInvestors