Your trusted source for investing success since 2007. Renowned for our market outlook reports and investing guides.
This Company Made a Once-in-a-Lifetime Gold Discovery - What’s Next?
Mark Selby of RNC Minerals shares what’s next at the Beta Hunt mine in Australia, where his company recently made a 24,000-ounce gold discovery.
What comes after a once-in-a-lifetime gold discovery? According to Mark Selby, president and CEO of RNC Minerals (TSX:RNX), the work has just begun.
Earlier this month, Selby’s company shook the gold space with the announcement that it had unearthed over 9,000 ounces of gold from a space the size of a living room. The discovery, made at RNC’s Beta Hunt mine in Western Australia, was later boosted to 24,000 ounces of gold worth $38 million.
“We always were quite bullish on the exploration potential of the Beta Hunt mine,” said Selby in conversation at the recent Denver Gold Forum. But the company never expected a find this big — “Eric Sprott characterized it as probably the highest-grade pull out of gold he’s ever heard of,” he noted.
Since those first announcements, the company has continued to add color in terms of Beta Hunt’s potential, with the most recent update coming this past Monday (September 24).
“The thing that’s really exciting is the fact that the structure that created this high-grade gold basically covers the entire property,” Selby explained, adding, “we literally have almost 10 kilometers worth of potential to go looking for more of these high-grade deposits.”
Unsurprisingly, Beta Hunt, which RNC put up for sale earlier this year, is now firmly off the market. “The for sale sign is off the lawn,” Selby laughed. “We think it has the potential to be a very large, long-life gold asset and a great addition to the Kambalda-Kalgoorlie area.”
Image courtesy of RNC Minerals.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in contributed article. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1960.75 | -4.58 | |
Silver | 24.28 | +0.01 | |
Copper | 3.77 | -0.02 | |
Palladium | 1713.17 | 0.00 | |
Platinum | 1087.26 | 0.00 | |
Oil | 70.35 | -0.94 | |
Heating Oil | 2.36 | -0.03 | |
Natural Gas | 2.26 | -0.09 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured Precious Metals Stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.