GREY:RNKLF - Post by User
Post by
pierregon Jun 11, 2020 1:38pm
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RNC to buy Spargos Reward gold project
RNC to buy Spargos Reward gold projectRNC to buy Spargos Reward gold project, proposes name change, Seeking Alpha Jun. 11th '20 https://seekingalpha.com/news/3572838-rnc-to-buy-spargos-reward-gold-project-proposes-name-change • Royal Nickel (OTCQX:RNKLF -2.6%) agrees to acquire the Spargos Reward gold project, in Western Australia.
• Spargos Reward contains indicated mineral resource estimate of 785,800 tonnes at a grade of 4.4 g/t, with inferred resource of 151,000 t at a grade of 4.0 g/t.
• The company is also proposing a name change to Karora Resources.
• “The addition of the Spargos Reward project would have the potential to further that progress by improving our per ounce cost structure across our operations. Our shareholders can expect us to continue to aggressively focus on reducing costs, with an all-in sustaining cost target of $1000/oz sold by the end of 2020. The historical high grades at Spargos Reward exceed those at both of RNC’s existing Beta Hunt and HGO gold operations.” said Paul Andre Huet, Chairman and CEO.