Mining junior RNI says a number of recent cost-cutting measures included staff redundancies and salary cuts across the board, as the company announced a $26.5 million recapitalisation plan to pay off debt.
The strong rise in the Australian dollar gold price has encouraged gold companies to press ahead with low-cost mine developments, despite uncertainty over royalties.
Three aspiring gold miners have announced an increase in projected free cash flow for their respective projects as a result of the strong gold price, coupled with falling fuel costs.
Former executive chairman of the Kimberley Diamond Company, Miles Kennedy, has left the role of managing director at Lucapa Diamond Company as part of a board restructure.
Metallurgist Royce McAuslane has been appointed managing director of mineral explorer RNI, while chairman Miles Kennedy will move to a non-executive role effective immediately.
