RNI increases holdings in WA
PERTH (miningweekly.com) – ASX-listed Resource and Investment (RNI) on Wednesday reported that it would expand its footprint in Western Australia by acquiring the Horseshoe Range gold project from fellow-listed Naracoota Resources.
The Horseshoe Range project, which consisted of two exploration licences, 19 prospecting licences and certain exploration field assets, directly adjoined RNI’s Horseshoe mining licence, which formed part of its greater Grosvenor gold and base metals project.
The Horseshoe project contained an estimated Joint Ore Reserves Committee-compliant resource of 164 600 oz, based on a 2.37-million resource, grading 2.16 g/t.
Under the terms of the transaction, RNI would provide Naracoota some two-million fully paid ordinary shares, at a deemed issue price of 25c each, or shares to the value of A$300 000, based on the volume-weighted average price of RNI shares in the five trading days prior to the completion date.
The sales agreement was subject to various conditions and approvals, including Narcoota shareholder approval.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















