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RNC Minerals Recovers First 90 Kg Gold Slab From Its Australia Mine

Kitco News

Toronto-based junior miner RNC Minerals (TSX: RNX), which discovered more than 9,250 ounces of gold valued around $11 million last month, is announcing the successful recovery of the first specimen slab from the top of the Father's Day Vein at the Beta Hunt Mine in Western Australia (WA). “The slab was cut in the field, revealing impressive visible gold and quartz structures. The slab, weighing approximately 90kg, is estimated to contain approximately 1,000 ounces of gold,” the company says in a press release. RNC Minerals is now working on removing the second large specimen slab. “We expect that these spectacular specimen slabs will be highly sought after by mineral specimen collectors. With a minimum of 30-35,000 ounces expected from the Father's Day Vein area, the company will be in a substantial net cash position to fully fund its upcoming activities,” 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 company has filed a management information circular and related voting materials ahead of a Nov. 5 special meeting of shareholders to vote on issuance of Barrick common shares in connection with the proposed merger with Randgold Resources Ltd. The all-stock deal, in which Barrick would acquire Randgold, was announced Sept. 24. Barrick says shareholders should receive meeting materials by mail shortly, although this is also on the company’s website. The merger would create a company that was valued at $18.3 billion and would be the largest gold producer in the world.

By Allen Sykora of 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 quarter with a marked improvement in production and average grade compared to the prior two quarters in 2018 while operating cash costs improved to below $630 per ounce,” says Ben Guenther, interim president and chief executive officer. “This performance reflects a third consecutive quarter of increasing record production 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 helped by a higher average grade of 4.40 grams per tonne, Jaguar says. Pilar also achieved record low cash costs $560 per ounce sold, Jaguar says. A plan was initiated 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 Sykora of 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 2018 production guidance after output of 19,795 ounces in the third quarter, up from 13,313 in the year-ago period. “Production in Q3 benefitted from initial mining of the wide, high-grade 303 lens, which commenced stope production late in the quarter,” says Duncan Middlemiss, president and chief executive officer. “We expect this area to continue production well into 2019. Year-to-date production of 54,371 ounces has us well positioned to achieve our raised guidance range of 70,000 [to] 75,000 ounces.”

By Allen Sykora of 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 Mine produced 40,980 ounces poured (41,247 ounces recovered) during the third quarter. This was comparable to output of 41,000 ounces in the same period a year ago, based on Guyana’s third-quarter 2017 earnings report. The company sold 41,200 ounces of gold in the July-September period at an average realized gold price of $1,200 per ounce, generating third-quarter revenue of $49.4 million. "We are on track to deliver a strong fourth quarter achieving the low end of our revised 2018 annual production 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 year with our strongest quarter to date.”

By Allen Sykora of Kitco News; asykora@kitco.com

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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