The Board of IronRidge Resources Limited, the African focussed minerals exploration company,...
Canadian miner completes Australian gold project acquisition
Toronto-based miner RNC Minerals has announced it closed its acquisition of the Higginsville gold operation, in Western Australia, from Westgold Resources Limited under which it paid the company some A$25 million (US$17.5 million) and issued some 56.9 million shares in satisfaction of the project’s purchase price.
"Today's announcement is another major step forward for RNC. The combination of the Higginsville Mill and our Beta Hunt Mine will transform RNC's gold operations in Western Australia into a multi-mine operation anchored by the 1.3 Mtpa HGO Mill, the high grade and bulk resource potential at Beta Hunt (which was once again confirmed last week), and a large land position in the Kalgoorlie gold region," said Mark Selby, the president and CEO of RNC Minerals, as quoted in a statement.
The Canadian business says Higginsville is located 57 km south of its Beta Hunt Operation and 107 km south of the Kalgoorlie regional mining centre