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RNC Minerals (TSX: RNX) (“RNC”) announces its review of activities and financial results for the quarter ended June 30, 2017. All amounts are expressed in Canadian dollars, unless otherwise noted, and are based on the unaudited financial statements for the quarter ended June 30, 2017. As quoted in the press release: Mark Selby, President and CEO, commented, …
RNC Minerals (TSX: RNX) (“RNC”) announces its review of activities and financial results for the quarter ended June 30, 2017. All amounts are expressed in Canadian dollars, unless otherwise noted, and are based on the unaudited financial statements for the quarter ended June 30, 2017.
As quoted in the press release:
Mark Selby, President and CEO, commented, “Performance at Beta Hunt rebounded significantly during the second quarter due to strong improvement in production mining, mine development and an ongoing focus on improving grades as ounces mined increased by 50% to 8,281 and mining rates accelerated to 1,800 tonnes per day by June – a 59% improvement versus the first quarter. Gold grade mined improved by 24% during the quarter to 2.09 g/t compared to the first quarter. Production in June was over 3,900 ounces of gold translating into an annualized rate of 47,000 ounces. With the ramp-up in production and improvement in grades, mining cash costs declined by $US850 per ounce – from $US 1,669in the first quarter to $819 per ounce in June 2017. We expect costs to continue to improve as production ramps up through the remainder of 2017.”
