TORONTO, March 18, 2020 /CNW/ – RNC Minerals (TSX: RNX) (“RNC” or the “Company”) announces it has implemented strict control measures at its operations in response to the COVID-19 pandemic. A task force at our Australian operations, led by Graeme Sloan, Managing Director, Australian Operations, has been established to ensure our operating sites remain as prepared and responsive to this evolving situation as possible.
“RNC’s number one priority is the health and safety of our employees and stakeholders. We are carefully monitoring the advice of local health authorities. We have informed our site personnel of the precautions that need to be taken with respect to travel to and from site, along with isolation periods should anyone exhibit symptoms consistent with COVID-19. We have also proactively employed a full-time nurse specifically to monitor the status of people entering and leaving our operations. Additionally, we have also sealed off our operations from any outside visitors not critical to business operations.
In order to minimize potential disruptions to our supply chains, we are building additional critical supplies beyond normal levels. During the Australian bushfires in December and January, our ROM stockpiles proved critical in ensuring milling rates were maintained. Accordingly, we are building stockpiles once again. Our ROM stockpiles are now growing steadily from three sources: Baloo, Beta Hunt and our new open pit Fairplay North.
With respect to operations, our 2020 production guidance of 90-95 koz and AISC1 guidance of US$1,050-US$1,200/oz remains unchanged. As highlighted in a prior release, we are targeting AISC1 of ~US$1,000/oz by the end of the year (see RNC news release dated January 23, 2020).”
Paul Andre Huet, Chairman & CEO
| 1 | Non-IFRS Measure: the definition of these measures are included in the Non-IFRS Measures section of RNC’s MD&A dated November 5, 2019 |
Fourth Quarter 2019 Conference Call / Webcast to be held on March 26, 2020
RNC is also pleased to announce senior management will host a conference call / webcast on March 26, 2020 at 10:00 a.m. (Eastern Time) to discuss the corporation’s fourth quarter 2019 results. The access information is provided below.
Date: March, 26 2020
Time: 10:00 a.m. (Eastern time).
North American callers please dial: 1-888-231-8191
Local and international callers please dial: 647-427-7450
Webcast Link (https://event.on24.com/wcc/r/2229149/63F8F15E36E6ED35A33635AC1190BC73)
RNC plans to issue a news release containing fourth quarter 2019 results before markets open on Thursday, March 26, 2020.
A recording of the conference call will be available for replay through the webcast link, or for a one-week period beginning at approximately 1:00 p.m. (Eastern Time) on March 26, 2020, through the following dial in numbers:
North American callers please dial: 1-855-859-2056; Pass Code: 7561119
Local and international callers please dial: 416-849-0833; Pass Code: 7561119
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 is a 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.
