Rua Gold Inc. (OTCQB:NZAUF)(TSXV:RUA) CFO Zeenat Lokhandwala talked with Angela Harmantas at the PDAC conference in Proactive about the company's gold and antimony exploration projects in New Zealand. Rua Gold operates two projects: one in the North Island and another in the South Island, within historically productive mining regions.
Lokhandwala emphasized that New Zealand is becoming increasingly favorable for mining, with a pro-mining government aiming to double exports and introducing a fast-track approval system to reduce mine permitting time to six months. The company’s South Island project is in the Reefton goldfield, which has historically produced two million ounces of high-grade gold. Rua Gold holds approximately 95% of this land package, covering 120,000 hectares, and is actively drilling to expand its resource base.
Discussing its current drill program, Lokhandwala stated, "We already have an inferred resource, and we're looking to triple that by the end of the year." The company is well-funded, having recently closed an oversubscribed, non-warrant financing of $5.75 million, which will sustain drilling operations until at least October.
Beyond gold, Rua Gold is also advancing its antimony assets, a critical mineral in high demand globally. The price of antimony has surged from $10,000 to $50,000 per tonne, creating a significant opportunity for the company. Lokhandwala noted that New Zealand’s Resource Minister, Shane Jones, has shown strong interest in supporting antimony production.
Rua Gold’s North Island project, located near OceanaGold’s deposit, is also progressing with early-stage exploration, including UAV magnetics and soil sampling.
#RuaGold #GoldExploration #MiningNews #NewZealandMining #GoldStocks #Antimony #CriticalMinerals #ResourceInvesting #TSXV #OTCQB #DrillingResults #GoldInvesting #ProactiveInvestors
-