RNC Minerals Recovers First 90 Kg Gold Slab From Its Australia Mine
Toronto-basedjunior miner RNC Minerals (TSX: RNX), which discovered more than 9,250 ouncesof gold valued around $11 million last month, is announcing the successfulrecovery of the first specimen slab from the top of the Father's Day Vein atthe Beta Hunt Mine in Western Australia (WA). “The slab was cut in the field,revealing impressive visible gold and quartz structures. The slab, weighingapproximately 90kg, is estimated to contain approximately 1,000 ounces ofgold,” the company says in a press release. RNC Minerals is now working onremoving the second large specimen slab. “We expect that these spectacularspecimen slabs will be highly sought after by mineral specimen collectors. Witha minimum of 30-35,000 ounces expected from the Father's Day Vein area, thecompany will be in a substantial net cash position to fully fund its upcomingactivities,” writes RNC’s CEO Mark Selby.
By Anna Golubova of Kitco News; agolubova@kitco.com
Barrick Files Information Circular For Proposed Randgold Merger
Wednesday October 10, 2018 09:28
Barrick Gold Corp. (NYSE, TSX: ABX) (“Barrick”) says the companyhas filed a management information circular and related voting materials aheadof a Nov. 5 special meeting of shareholders to vote on issuance of Barrickcommon shares in connection with the proposed merger with Randgold ResourcesLtd. The all-stock deal, in which Barrick wouldacquire Randgold, was announced Sept. 24. Barrick says shareholders shouldreceive meeting materials by mail shortly, although this is also on thecompany’s website. The merger would create a company that was valued at $18.3billion and would be the largest gold producer in the world.
By Allen Sykoraof Kitco News; asykora@kitco.com
Jaguar Mining: Record Quarterly Output At Pilar Mine
Wednesday October 10, 2018 09:28
Jaguar Mining Inc.reports third-quarter gold production of 20,320 ounces,including record output at the Pilar Gold Mine. “We ended the third quarterwith a marked improvement in production and average grade compared to the priortwo quarters in 2018 while operating cash costs improved to below $630 perounce,” says Ben Guenther, interim president and chief executive officer. “Thisperformance reflects a third consecutive quarter of increasing recordproduction at Pilar and a solid improvement in production at Turmalina.”Pilar’s record production was 11,068 ounces, up 13% from a year ago and helpedby a higher average grade of 4.40 grams per tonne, Jaguar says. Pilar alsoachieved record low cash costs $560 per ounce sold, Jaguar says. A plan wasinitiated at the Turmalina Gold Mine to return to historical production levels.This mine’s output of 9,251 ounces declined 4% year-over-year.
By Allen Sykoraof Kitco News; asykora@kitco.com
Wesdome: On Track To Meet 2018 Gold Guidance
Wednesday October 10, 2018 09:28
Wesdome Gold Mines Ltd. says it remains on track to meet 2018production guidance after output of 19,795 ounces in the third quarter, up from13,313 in the year-ago period. “Production in Q3 benefitted from initial miningof the wide, high-grade 303 lens, which commenced stope production late in thequarter,” says Duncan Middlemiss, president and chief executive officer. “Weexpect this area to continue production well into 2019. Year-to-date productionof 54,371 ounces has us well positioned to achieve our raised guidance range of70,000 [to] 75,000 ounces.”
By Allen Sykoraof Kitco News; asykora@kitco.com
Guyana Goldfields’ 3Q Output Steady Compared To Year Ago
Wednesday October 10, 2018 09:28
Guyana Goldfields Inc. (TSX: GUY) says the Aurora Gold Mineproduced 40,980 ounces poured (41,247 ounces recovered) during the thirdquarter. This was comparable to output of 41,000 ounces in the same period ayear ago, based on Guyana’s third-quarter 2017 earnings report. The companysold 41,200 ounces of gold in the July-September period at an average realizedgold price of $1,200 per ounce, generating third-quarter revenue of $49.4million. "We are on track to deliver astrong fourth quarter achieving the low end of our revised 2018 annualproduction guidance of 175,000-185,000 ounces of gold,” says Scott A. Caldwell,president and chief executive officer. “We are confident we will end the yearwith our strongest quarter to date.”
By Allen Sykoraof Kitco News; asykora@kitco.com
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