GREY:RNKLF - Post by User
Comment by
ProfBaIthazaron May 18, 2019 6:49pm
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Post# 29758898
RE:RE:RE:I don't want disturb the pumping crew with the facts, but ..
RE:RE:RE:I don't want disturb the pumping crew with the facts, but ..
Dec 23rd, 2025. It’s a 21 year lease and I imagine it’ll be renegotiated shortly. This is from their https://www.rncminerals.com/download/RNC+2017+AIF+FINAL_2-Apr-2018.pdf
2017 Annual Information Form (A-5). I see on pages A-3 and A-4 that the tenements held by St. Ives Gold Mining (SIGMC) expire in Dec 2025.
Do Gold Fields' mining tenements, on which the BH mine is located, have an expiration date? Does the sub-lease agreement with Gold Fields and SLM has the end date? Bagholders' understanding is that it's just a formality to renew their lease. Are you sure, with all gold
discovered in BH? LOL Out of the goodness of their harts - `No problem Mark, it will be just small formality`. LOL Where do you live people? Do we live in the same world? Gold Fields Limited is one of the world’s largest gold mining firms.It is the world's 7th-largest producer of gold.
Goldfields is waiting for RNC to waste their money and effort to do a resource estimate and then they will move in for a takeover before RNC starts to mine out all the High-Grade GOLD over 6.5 years, leaving them with a worthless 4km long hole!
Centrehold wrote: Nice try but nothing clandestine going on here with this sub-lease agreement. Dec. 24 2025 is simply the end date of SIGMC's (Australian subsidiary of Gold Fields) Mining Tenement, therefore the end date of the sub-lease is maximum term length that Gold Fields could extend to RNC. SIGMC has held the lease since Dec. 23 2004. If RNC hasn't sold Beta Hunt by 2025 they could apply for the mining lease themselves. According to the Government of Western Australia's website, "The term of a mining lease is 21 years" (
https://www.dmp.wa.gov.au/Minerals/Mining-Tenements-explained-5145.aspx).
ProfBaIthazar wrote: The Beta Hunt Mine was acquired by SLM in 2013 for A$10M after securing gold mining rights from Gold Fields Limited for the specified period of time. The mining tenements on which the Beta Hunt Mine is located are held by Gold Fields Limited. SLM operates the Beta Hunt Mine by virtue of a sub-lease agreement with Gold Fields Limited. $RNX has 100% interest in Salt Lake Mining Pty Ltd.
2025 is the end of the lease - 6 years and RNX will kiss Beta Hunt goodbye!
https://i.postimg.cc/fLdgMnsZ/kiss-BHgoodbuye.jpg