Rua Gold Inc.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
1055 West Georgia Street, Suite 1500 Vancouver, BC Canada V6E 4N7 |
| Tel No.： | 604-655-7354 |
| Web Site： | www.ruagold.com |
| E-mail： | info@ruagold.com |
| Contact Person： | Robert Eckford |
| Position： | CEO |
| Traded Market： | TSX-V | OTC | WKN |
| Traded Symbol： | RUA | NZAUF | A4010V |
| Outstanding Shares： | Approx. 238.03 million |
| 52 Week High： | $ 0.28 |
| 52 Week Low： | $ 0.11 |
| Present Price： | Click Here |
Rua Gold is a new entrant to the gold mining space, specializing in gold exploration and discovery in New Zealand. Upon closing of the transaction with Siren Gold Ltd. announced in July, 2024, the Company will have permits enveloping 90 per cent of the Reefton Goldfield in New Zealand’s South Island. This district has a rich history dating back to the gold rush in the late 1800s. The Company also has a highly prospective tenement package in the North Island, located within three kilometres of Oceanagold’s biggest pipeline project, Wharekirauponga. Rua Gold combines traditional prospecting practices with modern technologies to uncover and capitalize on valuable gold deposits.
The Company is committed to responsible and sustainable exploration, which is evident in its professional planning and execution. The Company aims to minimize its environmental impact and to execute on its projects with key stakeholders in mind. Rua Gold has a highly skilled team of New Zealand professionals who possess extensive knowledge and experience in geology, geochemistry and geophysical exploration technology.
Investment Highlights
The Assets
High Grade: 3 High-grade orogenic and epithermal gold targets with historical production grades ranging from 9 to 50 g/t Au
Location: Historic mining area in a very safe Tier 1 jurisdiction and a new pro-mining Government.
- New Zealand has a rich production history exceeding 40 million ounces of gold.
- As of November 2023, there is a newly elected pro-mining government aiming to double mining exports in the next 10 years through the fast-track approvals bill.
Scale: The RUA GOLD projects show indications and features of potential future large, long-life operations.
The People
Management and Board: Diverse operational and financial skillsets across leadership team and a proven track record
Skin in the game: Ownership of management and insiders over 30%, with real cheques written (no cheap/free stock)
Strategy: Delivering on promises and executing a well planned strategy from exploration through to development
Exploration in Two Gold Districts
Hauraki Goldfield (North Island)
Area: Hauraki Goldfield
Property: Glamorgan
Target: The Wires Ridge Prospect
High-grade epithermal gold province
- Total district production >15Moz gold and >60Moz silver
- OceanaGold’s Wharekirauponga Discovery >1Moz @ 16 g/t Au (Ind)1
RUA GOLD’s recent acquisition
- Glamorgan, a 4,644-hectare permit application
- Glamorgan has the classic surface features of a major epithermal gold-silver system
- The permit is 2.8km north of Wharekirauponga
¹Source: OceanaGold R & R Annual Statement, February 21, 2024
Reefton Goldfield (South Island)
Re-emerging as a new active gold mining district with RUA GOLD as the dominant player
Area: Reefton Goldfield
Properties: Envelope of the entire district
Target: Multiple
High-grade orogenic gold
- Total district production of 2Moz @ 9-50 g/t Au
- Tenements covering ~90% of the historic district with prospective targets fully permitted to drill
- Underexplored orogenic mineralization with direct analog to the Victoria Goldfields
Reefton Goldfield: Neighboring Camp
- Federation Mining is reopening the Reefton Goldfield with redevelopment of the Blackwater deposit
- The Blackwater development has attracted ~A$225 million in investment from AustralianSuper
Over the past 4 years, RUA GOLD has advanced exploration in the Reefton Goldfield with over $14M spent. The team has completed detailed work including tenement acquisition, access agreements, mapping, and rock chip sampling. Now drills are turning for the next New Zealand high grade gold discovery.
- Acquisition of Siren’s Reefton properties trebles RUA GOLD’s tenure in an underexplored, high-grade, orogenic mine district
- A new chapter in RUA GOLD’s development towards its goal to be a major gold producer in New Zealand
In three years of exploration, RUA GOLD has:
- Analyzed 18,000 soils
- Detailed UAV magnetic surveys
- Completed 41 drill holes
- Made Pactolus greenfield discovery
- Conducted 3D modelling of 5 historic mine camps
The Company ranked its targets by prospectivity based on the above work and has 2 drill rigs mobilized, targeting down-plunge and along strike of brownfields targets on its prospective land package.
Rua Gold’s near-mine drilling program
The Company has commenced its near-mine drill program with five targets in the Murray Creek area as the first step in a comprehensive drilling campaign that will test targets in the Murray Creek, Crushington, Capleston and Caledonian historic districts. These historic mines collectively produced approximately 700,000 ounces of gold at 25.2 g/t within a radius of approximately 20 kilometres. The Company has commenced with its first target in Murray Creek, which is a downdip extension of the historic mine shoot. (See news release dated July 5, 2024)
Management and Directors
Robert Eckford, Chief Executive Officer
Co-founder and Head of Finance of Aris Mining. Experience in mining across Australia, Africa and South America.
Simon Henderson, Chief Operating Officer
Exploration Geologist and specialist in orogenic and epithermal gold systems. Has a long history and strong relationships in New Zealand with stakeholders.
Zeenat Lokhandwala, Chief Financial Officer & Corporate Secretary
Former CFO of Great Bear Royalties and Director of Finance of Great Bear Resources with over 10 years of M&A, finance, accounting and taxation experience.
Oliver Lennox-King, Chairman
Former Chairman of Fronteer Gold and Roxgold. Largest shareholder of RUA GOLD.
Paul Criddle, Director
Formerly COO West Africa at Fortuna and previously COO of Roxgold. Built and managed gold mines in West Africa. Former Managing Director at Matador Mining.
Mario Vetro, Director
Co-founder of K92 Mining. Owner in Commodity Partners. Extensive experience in structuring and advising resource companies.
Tyron Breytenbach, Director
Geologist with experience in operations and capital markets. CEO of Lithium Africa Resources, formerly SVP Capital Markets at Aris Mining and Managing Director of Cormark Securities.
Brian Rodan (Incoming Director)
Over 43 years of experience; currently serving as Fellow of the Australian Institute of Mining and Metallurgy. Founding Director of Dacian Gold.
On December 04, 2024, Rua Gold Inc. will implement the consolidation of its common shares in the capital of the company on the basis of one postconsolidation share for every six preconsolidation shares effective as of Dec. 6, 2024.
The company's name will remain unchanged after the consolidation. The new Cusip number will be 78109M206 and the new ISIN (international securities identification number) will be CA78109M206 for the postconsolidation shares.
The total issued and outstanding number of shares postconsolidation will be approximately 53,659,307, subject to rounding for fractional shares.
On November 27, 2024, The TSX Venture Exchange has accepted for filing documentation pertaining to a share purchase agreement, dated July 12, 2024, as amended by an amending agreement dated Oct. 18, 2024, between the company, the company's wholly owned subsidiary, Reefton Acquisition Corp., Siren Gold Ltd. (the vendor) and the vendor's subsidiary, Reefton Resources Pty. Ltd., whereby the company has acquired, through Reefton Acquisition, from the vendor all the issued and outstanding shares in Reefton, which owns certain tenements comprising of the Reefton project.
According to the agreement, the purchase price is $20-million (Australian) ($18.4-million (Canadian)), comprising $2-million (Australian) in cash (with $1-million (Australian) already paid at the signing of the agreement on July 12, 2024, and the remaining $1-million (Australian) paid at the closing), subject to customary adjustments following the closing, and 83,927,383 shares of the company issued to the vendor, subject to phased trading restrictions and valued at $18-million (Australian). Additionally, the company acquired 10 million shares of the vendor at 20 Australian cents each, totalling $2-million (Australian) ($1.8-million (Canadian)).
The transaction is arm's length in nature and no finders' fees are payable.
On November 25, 2024, Rua Gold Inc. has completed the acquisition of Reefton Resources Pty. Ltd. Reefton was a 100-per-cent-owned subsidiary of Siren Gold Ltd. The completion of the transaction expands Rua Gold's tenement package to cover over 95 per cent of the Reefton goldfield.
Robert Eckford, chief executive officer of Rua Gold, stated: "Today marks a pivotal point in Rua Gold's development. With the completion of this transaction, the Reefton district is largely under control of one
company. This creates the opportunity to develop a world-class, scalable mining operation in an area that had high-grade production and is considerably underexplored at depth.
"Since the announcement in July, our team has been integrating Siren's data from the Reefton properties and will incorporate this into the Vrify AI drill targeting platform. Putting together all of these advanced exploration projects through the transaction creates an exciting district-scale opportunity.
"Advancing the Auld Creek gold project and weighing up other compelling targets for immediate drilling along with our current drilling successes provides a broad platform for the future."
On November 04, 2024, Rua Gold Inc. has provided an update from the drilling campaign under way at the Reefton project on the South Island of New Zealand.
Rua Gold reports the completion of the second hole testing the downdip extension of the Victoria lode -- DD_VIC_042. This intersected the targeted gold vein at 388 metres downhole with a highly silicified and pyritic zone over 0.6 metre in length, including visible gold of 0.2 metre at 34.1 grams per tonne.
Rua Gold has commenced a series of wedged daughter holes from DD_VIC_042 to progress the delineation of the unmined reef downdip and along strike.
Robert Eckford, chief executive officer of Rua Gold, commented: "This encouraging result with the second drill hole of our near-mine program again validating this vein continues at depth and is still open. Careful 3-D modelling and targeting of extensions and potential duplications of known gold lodes provides lower-risk strategies to define resources economically. We are at the very outset of our drill program, and, with every hole, it is getting better. Very exciting times for the Rua Gold team and a testament to the dedication of the team on the ground in New Zealand."
On October 28, 2024, Rua Gold Inc. previously announced proposed acquisition of Reefton Resources Pty. Ltd. was approved at today's special meeting of the shareholders of Siren Gold Ltd. Reefton is a 100-per-cent-owned subsidiary of Siren, with tenements located adjacent to the company's suite of properties in New Zealand's prolific Reefton goldfield.
Robert Eckford, chief executive officer of Rua Gold, stated: "Recognizing the strategic rationale to create a district-scale exploration opportunity covering some of the highest-grade gold and antimony assets in the world, Siren's shareholders overwhelmingly voted in favour of this transformational transaction. The combined company benefits from having both the local Reefton teams working together and Brian Rodan, chairman of Siren, joining the Rua Gold board. We have a proven board and management team, in a favourable jurisdiction, looking to generate superior returns for both Siren and Rua Gold shareholders. Seeing the competing offer from Federation Mining made on Oct. 14, 2024, only confirms our thesis on the high-grade potential of this district and we are excited to deliver results."
Closing of the transaction is expected to occur in November, 2024, subject to satisfaction of customary closing conditions for a transaction of this nature and the receipt of final approval from the TSX Venture Exchange.
On October 23, 2024, Rua Gold Inc. has been requested by OTC Markets Group Inc. to issue this statement about promotional activity concerning its common shares traded on the OTCQB Venture Market.
On Oct. 21, 2024, OTC Markets informed the company that it became aware of certain promotional activities concerning the company and its shares traded on the OTCQB, including the distribution of four e-mail newsletters published by Wealth Research Group LLC, an affiliate of Gold Standard Media, LLC; Portfolio Wealth Global, an affiliate of Gold Standard; SHTFPlan.com, an affiliate of Gold Standard; and Future Money Trends LLC, an affiliate of Gold Standard, discussing the company, its business, the economy and the gold market generally.
On October 21, 2024, Rua Gold Inc. has provided an update on the previously announced acquisition of Reefton Resources Pty. Ltd., a 100-per-cent-owned subsidiary of Siren Gold Ltd. with tenements located adjacent to the company's suite of properties in New Zealand's prolific Reefton goldfield.
The company and Siren have agreed to amend the terms of transaction whereby Rua Gold agrees to purchase 10 million common shares of Siren at a price of 20 Australian cents per share, for aggregate gross proceeds of $2-million (Australian).
The final key milestone anticipated is the Siren shareholder vote on Oct. 28, 2024. If in favour, the company anticipates closing the transaction in November.
Robert Eckford, chief executive officer of Rua Gold, stated: "This is an exciting stage for Rua Gold shareholders, Siren Gold shareholders and the Reefton goldfields community. Our merger presents a prime opportunity to establish a high-grade gold and antimony exploration company ready to deliver value through its drilling program planned on this land package. We will be looking at a combination of new discoveries alongside the scalability of historic high-grade mines to become a leading gold producer in the region. New Zealand's mining industry is experiencing a resurgence, supported by local and foreign investment as well as a pro-mining government implementing streamlined policies. The resulting improvements in regional infrastructure and employment will transform the West Coast and benefit all of New Zealand."
On October 15, 2024, Rua Gold Inc. has provided an update from the drilling campaign under way at the Reefton project on the South Island of New Zealand.
The company commenced its near-mine drill program on the Murray Creek targets in July. A second drill rig was introduced in September to test the Capleston vein system. These historic mines collectively produced approximately 700,000 ounces of gold at 25.2 grams per tonne within a radius of approximately 20 kilometres.
Robert Eckford, chief executive officer of Rua Gold, commented: "Our five years of meticulous surface exploration work over the Reefton project is paying dividends from the outset of this drill program. Both of the initial drill holes have confirmed we are in right area and are locating these lodes. The near-surface intercepts on Capleston are encouraging and makes for compelling economic ounces; it supports our thesis that the surface veins are continuous past the old workings. Despite the initial drill hole at Murray Creek hitting old workings, it is extremely encouraging that we have identified the dip angle of the Victoria lode and we have even more confidence with the subsequent hole that is under way now, and results from this will be ready in the next few weeks."
On October 03, 2024, Rua Gold Inc. has provided an exploration update for its Glamorgan project in the Hauraki goldfield, on the North Island of New Zealand and situated 2.8 kilometres (km) north of OceanaGold Corp.'s Wharekirauponga project (WKP) which has indicated resources of 1.01 million ounces (Moz) at 15.9 grams per tonne (g/t).
The company was granted a minimum impact access agreement (MIA) from the Department of Conservation (DoC) for its Glamorgan project in August, 2024. Following this, the exploration team was mobilized and has made excellent progress, including:
- Collecting 2,000 of the planned 3,000-soil-sample program;
- Completing the first full phase of UAV (unmanned aerial vehicle) drone magnetic geophysical surveying;
- Commencing ground geological mapping.
Based on initial surface soil geochemistry, interpreted geophysical structures and geological mapping, there is preliminary evidence that the Glamorgan project has the hallmarks of a significant epithermal gold system, with surface features similar to the adjacent WKP gold deposit. Further exploration work is required to confirm whether a significant epithermal gold system exists.
Following its surface exploration work, the company will design a drill program and apply for a full access agreement by the end of the year to commence drilling at the Glamorgan project.
August 23, 2024, Rua Gold Announces New and Amended Marketing Contracts
https://ruagold.com/rua-gold-announces-new-and-amended-marketing-contracts/
July 25, 2024, Rua Gold Closes C$8 Million Brokered Offering and Announces Commencement of Trading on the TSE Venture Exchange. The Company intends to use the net proceeds from the Offering for continuing the exploration program on its Reefton Project, and for general working capital and general corporate purposes.
July 17, 2024, Rua Gold Announces C$8 Million Brokered Offering of Common Shares
https://ruagold.com/rua-gold-announces-c8-million-brokered-offering-of-common-shares/
July 17, 2024, Clarification: Historical Mineral Resource Estimate at Reefton
https://ruagold.com/clarification-historical-mineral-resource-estimate-at-reefton/
July 15, 2024, RUA GOLD to acquire Siren Gold’s Reefton Assets and become the dominant Reefton Goldfield explorer
July 5, 2024, Rua Gold Permit and Access Extended For Five Years at the Reefton Project and the Company Targets Murray Creek in the Near-Mine Drilling Program