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CatamaranFundon Jan 08, 2020 11:58am
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RNC Minerals Says Second Half Gold Production Tops Guidance
RNC Minerals Says Second Half Gold Production Tops Guidance RNC Minerals Says Second Half Gold Production Tops Guidance
08:13 AM EST, 01/08/2020 (MT Newswires) -- RNC Minerals (RNX.TO) on Wednesday said its second-quarter gold production topped its guidance, giving it excess funds it used to pay down debt.
The company said it mined 51,090 ounces of gold in the six-month period, including 26,874 ounces in the fourth quarter, topping the upper end of its guidance of 49,000 ounces. It did not provide year-prior data.
RNC said the performance of its Australian gold assets increased its cash holdings to C$34 million at year end, up from C$25 million a year earlier, even after paying down debt by C$3 million.
The company said it has provided personnel and equipment to Australian firefighters combatting the country's wildfires, but the blazes have had no impact on its operations.
RNC shares closed up C$0.005 to C$0.48 on the Toronto Stock Exchange Tuesday.
Price: 0.48, Change: +0.01, Percent Change: +1.05
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