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TORONTO, June 11, 2020 /CNW/ – RNC Minerals (“RNC”) (TSX: RNX) is pleased to announce the voting results of its annual meeting of shareholders held today in Toronto.
Election of Directors
The nominee directors listed in RNC’s management information circular dated May 8, 2020 were elected as directors. Shareholders represented by proxy at the meeting voted as follows:
Director | Votes For (by proxy) | Votes Withheld (by proxy) | ||
Peter Goudie | 194,857,512 | 99.00 | 1,973,286 | 1.00 |
Scott M. Hand | 194,316,371 | 98.72 | 2,514,427 | 1.28 |
Paul Huet | 194,380,316 | 98.76 | 2,450,482 | 1.24 |
Wendy Kei | 187,606,942 | 95.31 | 9,223,856 | 4.69 |
Warwick Morley-Jepson | 187,526,631 | 95.27 | 9,304,167 | 4.73 |
Chad Williams | 187,751,852 | 95.39 | 9,078,946 | 4.61 |
Other Items
The resolution to reappoint PricewaterhouseCoopers LLP, Chartered Accountants, as auditors of the Corporation to hold office until the next annual meeting of shareholders and to authorize the directors to fix the remuneration to be paid to the auditors was approved by 99.8% of the votes cast on the resolution.
The special resolution to authorize a change in the name of the Corporation to “Karora Resources Inc.” was approved by 96.4% of the votes cast on the resolution.
The special resolution to authorize a consolidation of the common shares of the Corporation as set out in the management information circular sent to shareholders in respect of the meeting was approved by 88.2% of the votes cast on the resolution.
About RNC Minerals
RNC is focused on growing gold
production and reducing costs at its integrated Beta Hunt Gold Mine and
Higginsville Gold Operations (“HGO”) in Western Australia.
The Higginsville treatment facility is a low-cost 1.4 Mtpa processing
plant which is fed at capacity from RNC’s underground Beta Hunt mine and
open pit Higginsville mine. At Beta Hunt, a robust gold mineral
resource and reserve is hosted in multiple gold shears, with gold
intersections along a 4 km strike length remaining open in multiple
directions. HGO has a substantial historical gold resource and highly
prospective land package totaling approximately 1,800 square kilometers.
In addition, RNC has a 28% interest in a nickel joint venture that owns
the Dumont Nickel-Cobalt Project located in the Abitibi region of Quebec.
Dumont contains the second largest nickel reserve and ninth largest
cobalt reserve in the world. RNC has a strong Board and management team
focused on delivering shareholder value. RNC’s common shares trade on
the TSX under the symbol RNX. RNC shares also trade on the OTCQX market
under the symbol RNKLF.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains “forward-looking information” including without limitation statements relating to the liquidity and capital resources of RNC, production guidance and the potential of the Beta Hunt Mine, Higginsville Gold Operation and Dumont Nickel Project.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RNC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to RNC’s filings with Canadian securities regulators, including the most recent Annual Information Form, available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and RNC disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Cautionary Statement Regarding the Higginsville Mining Operations
A
production decision at the Higginsville gold operations was made by
previous operators of the mine, prior to the completion of the
acquisition of the Higginsville gold operations by RNC and RNC made a
decision to continue production subsequent to the acquisition. This
decision by RNC to continue production and, to the knowledge of RNC, the
prior production decision were not based on a feasibility study of
mineral reserves, demonstrating economic and technical viability, and,
as a result, there may be an increased uncertainty of achieving any
particular level of recovery of minerals or the cost of such recovery,
which include increased risks associated with developing a commercially
mineable deposit. Historically, such projects have a much higher risk of
economic and technical failure. There is no guarantee that anticipated
production costs will be achieved. Failure to achieve the anticipated
production costs would have a material adverse impact on the
Corporation’s cash flow and future profitability. Readers are cautioned
that there is increased uncertainty and higher risk of economic and
technical failure associated with such production decisions.
SOURCE RNC Minerals
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© Copyright 2022 insidexploration.com | Multimedia and analytical due diligence database for the investing community | Contact us: insidexploration@gmail.com