TORONTO, Jan. 6, 2020 /CNW/ - RNC Minerals (TSX: RNX)
("RNC") is pleased to announce the appointment of Chad Williams, P. Eng, to its board of
directors.
Paul Andre Huet Chairman and CEO
of RNC said, "We are very pleased to have Chad join our board and
look forward to his contributions. Chad is a well recognized leader
in the mining industry, not only with the resounding success of
Red Cloud but throughout his career
in executive management, investment banking and as a mining
analyst. With our focus now on growing production and reducing
costs at our Western Australian gold mining and milling operations,
Chad's insights will provide valuable guidance as we work to grow
the business to create shareholder value."
Mr. Williams is the Chairman and Founder of Red Cloud
Securities, and has extensive experience in mining finance and
management, having previously held the positions of CEO of Victoria
Gold Corp., Head of Mining Investment Banking at Blackmont Capital
Inc. and a top-ranked mining analyst at TD Bank and other Canadian
brokerage firms. Mr. Williams has been a Director of several
emerging mining companies and was a founder of Agilith Capital Inc.
and Westwind Capital Inc. Mr. Williams holds a P.Eng in Mining and
an MBA from McGill University.
"RNC's future is bright", said Mr Williams. "The Company's two
gold mining operations are now performing very well due to the many
positive changes made by Paul Huet
and his team over the past several months. With continued cost
improvements and the significant upside remaining at both
operations, this promises to be a very exciting year for RNC
shareholders."
About RNC
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 Regarding the Beta Hunt
Mine
The decision to produce at the Beta Hunt Mine was 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 SLM'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 An
updated mineral resource estimate is summarized in the "Technical
Report on The Beta Hunt Mine, Kambalda, Western Australia" dated September 17, 2019. It is further cautioned that
mineral resources are not mineral reserves and do not have
demonstrated economic viability.
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 Beta Hunt Mine and
Higginsville
The decision to produce at the Beta Hunt
Mine was 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 SLM'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. It is further cautioned that mineral resources are not
mineral reserves and do not have demonstrated economic
viability.
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