News Release and InterpretationYou people can read this however you want, but this news release does not say they're getting another 30,000 ozs. It says to date they have mined 27,000, and at current gradings provided they should hit 30,000-35,000. It also implies that the slab which they're working on this week, will provide said extra gold.
I am excited, but I'm not doubling the value of the company tomorrow because of it.
TORONTO, Oct. 2, 2018 /CNW/ - RNC Minerals (TSX: RNX) ("RNC") is pleased to announce that, after expected recovery of a high grade specimen slab from the top of the current Father's Day Vein stope later this week, mining operations are scheduled to resume in the area of the initial Father's Day Vein discovery.
RNC expects a minimum of 30-35,000 ounces of gold to be recovered from the initial development area. To date, approximately 27,000 ounces of high grade coarse gold has been recovered from a 60 m3 cut (167 tonnes) on 15 Level at the Beta Hunt Mine, grading over 161 ounces/tonne or 5,000 grams/tonne. RNC continues to review historical drilling and mapping to understand the extent of the structures that could contain high grade coarse gold.
"With resumption of mining in the initial Father's Day Vein development area later this week, we will add additional production to bring expected total gold production from this area to 30-35,000 ounces