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RNC Minerals added to prestigious MVIS Global Junior Gold Miners Index

The index tracks the performance of the most liquid junior companies in the gold and silver mining industry

beta hunt
The company's flagship project is the Beta Hunt gold mine in Western Australia

RNC Minerals (TSE:RNX) has been added to a prestigious junior gold miner index, the company announced Monday.

The MVIS Global Junior Gold Miners Index tracks the performance of the most liquid junior companies in the gold and silver mining industry.

RNC's shares jumped 13% on Monday morning in Toronto to C$0.52.

READ: RNC Minerals soars after more high-grade gold discovered at Beta Hunt

The modified market capitalization-weighted index contains companies that generate at least half of their revenue from precious metals mining, or own development-stage properties with the potential to generate at least half of revenue.

In order to qualify, companies must have a full market capitalization of at least US$150 million, a three-month average daily trading volume of at least US$1 million and at minimum 250,000 shares traded per month over the last six months.

Calling the inclusion “another major milestone” for RNC, CEO Mark Selby said, “Our inclusion in the index should bring further liquidity and increased market visibility for RNC and reflects the company's growth as a gold producer and developer.

“With the recent closing of our acquisition of the Higginsville mine and mill from Westgold, the further confirmation of our model for high grade coarse gold at Beta Hunt, and our coming resource update for Beta Hunt at the end of the second quarter, today's announcement is another exciting development for RNC shareholders."

The addition comes following a June announcement that RNC had made another major gold discovery at its Beta Hunt mine in Western Australia. The new discovery of coarse gold in quartz veins just beneath the Father's Day Vein amounted to 987 ounces of the precious metal that was recovered in 238 kilograms of rock, according to early estimates.

--Updates share price--

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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TSX:RNX
Market: TSX
Market Cap: $230.48 m
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RNC Minerals undergoing a 40,000 meter drilling campaign on gold project

RNC Minerals (CVE: RNX) CEO Mark Selby spoke with Proactive Investors at the Prospectors & Developers Association of Canada in Toronto. The company has a 100% interest in the Beta Hunt gold mine located in Western Australia. RNC is currently completing a 40,000 metre drill program, the...

on 7/3/19

2 min read