Resource and Investment (ASX:RNI) has received $1.7 million through its early participation in the Mining Rehabilitation Fund scheme established by the Western Australian Government’s Department of Mines and Petroleum
The release of funds follows approval by the DMP to retire the $1.803 million cash backed Unconditional
Performance Bonds relating to the Company’s Grosvenor Project in Western Australia.
RNI has paid approximately $102,000 as the annual premium for participation in the MRF scheme, leaving net proceeds of $1.7 million.
Resource and Investment explores for gold and copper over its 1800 square kilometres of tenement holding in WA's Bryah Basin, looking to add to its current JORC resource of 1.25 million ounces of gold.
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