RNC Minerals announces its financial results and review of activities for the three and nine months ended September 30, 2019 and 2018.
RNC Minerals (TSX:RNX) announces its financial results and review of activities for the three and nine months ended September 30, 2019 and 2018.
As quoted in the press release:
Paul Huet, Chairman and CEO, commented, “We are extremely pleased to announce the results of a transformational third quarter at RNC. With the completion of the Higginsville mine and mill acquisition, the third quarter of 2019 reflects the first time that RNC has processed gold ounces at its wholly owned milling facility at Higginsville.
In a very short time, RNC has evolved from a single mine producer subject to high-cost toll milling to a company with two producing mines feeding a low-cost centralized mill. The results returned during the first 90 days following the acquisition of our mill are just the beginning of continued productivity and cost improvements underway across all of our operations. Furthermore, we now have over 1,800km2 of underexplored land at Higginsville in the Kalgoorlie district and a list of priority targets at Beta Hunt. With our significantly strengthened balance sheet and quarter-end cash balance of $24.8 million, RNC is now a completely transformed company. I am very excited about our future.
Lastly, I would like to personally thank our staff and employees in Australia, who have worked tirelessly to ensure a smooth integration of our Higginsville Mine and Mill. I look forward to reporting the strong results of their efforts over the coming quarters.”