RNI completes gold assets sale
PERTH (miningweekly.com) – ASX-listed RNI has completed the sale of its gold assets to fellow-listed Metals X, in exchange for 18-million Metals X shares.
The two companies in July executed a binding heads of agreement under which RNI divested of its Grosvenor, Horseshoe and part of its Peak Hill projects in a A$20.3-million deal.
The three projects host a combined resource of over two-million ounces, while the Grosvenor project also included a one-million-tonne-a-year carbon-in-leach processing plant with substantial infrastructure, including a 100-person village, air strip and borefield.
RNI previously said it would use the proceeds from the sale of the Metals X shares to repay a A$23-million Turus Resources No 2 Fund debt, enabling the company to focus on its copper-gold exploration portfolio, in Western Australia.
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