Local News

The Quarter is Off to a Good Start.

 

 

 

RNC Minerals, formerly Royal Nickel Corporation, reports the third quarter of the year is off to a strong start at the Reed Mine in the Flin Flon Snow Lake region.  Their President Mark Selby reports in July the Reed Mine hoisted just over 40 thousand tonnes of ore at a grade of 4.1 percent copper and .5 grams per tonne gold.  For the month RNCs 30 percent share of metal contained in concentrate production from the Reed Mine was 515 tonnes of copper and 131 ounces of gold. He added RNCs share of cash flow from the Reed Mine reduced the effective contribution and bridge loan balance owed to Hudbay by an estimated 1.4 million dollars during the month to an estimated 8.6 million dollars.

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