Moves gives Aussie miner access to the Moose River gold complex in Nova Scotia, Canada, which comprises one producing open-pit and three other development projects.
The company recorded net income of $3.3m on $36m in revenue during the past quarter, compared with a net loss of $3.5m on $37m in revenue during the year-ago quarter.
The gold mining industry that built South Africa and produced about half of the yellow metal that’s ever been dug up seems now to be in terminal decline.
SailingStone Capital, the second largest shareholder in Rio Tinto- controlled Turquoise Hill is expected to vote against the re-election of the Canadian miner’s board members this week.
Average annual gold output would increase to more than 550,000 ounces in the five-year period 2020 – 2024, and over 400,000 ounces during the remaining seven years.