RNC Minerals (TSX: RNX) on Monday reported consolidated gold production of 24,816 gold ounces for the first quarter of 2020 from its Beta Hunt and Higginsville mines in Western Australia.
This figure represents the third consecutive quarter of “consistent gold production results” since acquiring the Higginsville mill and mining operations, the company said.
Chairman and CEO Paul Andre Huet said the company is still on track to achieve its 2020 gold production guidance of 90,000-95,000 ounces at AISC of $1,050-$1,200/oz, and he does not anticipate any “material disruptions in production” as a result of covid-19.
Additionally, RNC reported that consolidated cash balance increased to $38.4 million as at March 31, an 11% improvement from the $34.7 million recorded at year-end, despite the logistical challenges posed by the Australia bushfires as well as inclement weather across Western Australia in January.
RNC Minerals’ stock closed 1.3% higher on the TSX following its Q1 results release. The company has a market capitalization of C$237.2 million.
