RNC - Gold

    Schaut Euch mal das Teil an! Scheint interessant zu sein. RNC hat schon eine Mine die produziert.



    RNC Gold Inc. is a gold mining company focused on projects in the Caribbean basin. From its current production capacity base of 100,000 ounces of gold, RNC is positioned for growth through operational efficiencies, exploration potential at its present properties, through construction of new mines and the acquisition of new projects. The company's main assets include the La Libertad and Bonanza mines in Nicaragua, the Cerro Quema project in Panama and the Picachos exploration property in Mexico as well as the option to acquire 25% of the San Andres mine in Honduras. The Company has 31,276,451 common shares outstanding and on a fully diluted basis there are 49,114,096 securities outstanding.

    RNC aims for 4 Central America gold mines
    By: Dorothy Kosich
    Posted: '23-MAR-05 05:00' GMT © Mineweb 1997-2004



    RENO--(Mineweb.com) A new gold mine in Panama is on the horizon for Toronto-based junior miner RNC Gold, which already has two producing gold mines in Nicaragua, and is in negotiations to acquire a fourth gold mine in Honduras.


    In a presentation Tuesday to the Equicom Investor Relations Forum. RNC CFO Thomas Lough declared that the company's will have a combined 240,000 ounces of annual gold production as current projects evolve.


    For 2005, RNC has budgeted production of 100,000 ounces of gold at a cash operating cost of $285/oz. In 2004, the company produced 80,662 ounces of gold at a cash cost of $313/oz. Lough also announced that the company was eliminating its 14,000-ounce hedgebook by the end of next month including buying back half of the book.


    RNC Gold currently owns 100% of the Hemco/Bonanza underground mine and concessions, which produces 30,000 ounces annually and 100% of the La Libertad gold mine, a 70,000 ounce annual producer. Bonanza offers a land position of 205,000 hectares, the majority of which is unexplored. La Libertad reported an operating cash cost of $280/oz and is expected to have a 10-year mine life. Both mines are in Nicaragua. In its presentations, RNC has asserted that Nicaragua offers a long mining tradition, three successive free and democratic elections, a new Mining Law, a stable workforce, inflation which is under control, and no restrictions on capital.


    The company has already began work on construction of the $14 million Cerro Quema mine in Panama, which is expected to have seven-year mine life and to produce 48,000 to 50,000 ounces of gold annually at a $200/oz cash cost. Lough said commercial production is expected to commence during the third quarter of 2006.


    RNC is currently negotiating with Banco Atlantida, Honduras's largest bank, to acquire the remaining 75% of the San Andreas mine, according to Lough. A former Kennecott operation which was restarted in 2000, the San Andreas mine is a 75,000-ounce annual gold producer at a cash cost of $250/oz, he added. RNC managers are already operating the mine and the company owns a 25% interest. RNC Gold hopes to finalize the negotiations this year, Lough said.


    During this year, Lough said, RNC intends to implement a drilling program to increase reserves and resources at La Libertad and Bonanza. As of December 31, 2004, Lough said the company reported 900,000 ounces of proven and probable reserves, and 2.2 million ounces of measured and indicated resources.


    RNC is also bullish about its Picachos exploration property, located in a silver camp in the Durango State of Mexico.


    For 2004 RNC reported a net loss of $2.1 million or (8-cents) per share, compared to a loss of $13.6 million or ($1.32) per share in 2993. During the fourth quarter of 2004, RNC reported a net loss of $1.9 million or (7-cents per share) compared to a loss of $8.3 million or (68-cents) per share for the same quarter of 2003.


    The net loss of $1.875 million during the fourth quarter of 2004 was attributed to a non-hedge derivative loss of $1.2 million, $680,000 in interest expense related to a debt to CORNAP, a Nicaraguan government agency, and stock-based compensation expense of $382,000/ RNC also capitalized $500,000 related to a 20% acquisition of Hemco.

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