RNC Minerals Shares Soar On Another Gold Discovery At Beta Hunt

Shares of RNC Minerals (TSX: RNX) soared by over 22% on Thursday — taking the stock to over C$0.50 for the first time in two months — after another high-grade gold discovery yesterday at its Beta Hunt mine in Western Australia. This is the second discovery of significance at Beta Hunt in the past nine months.

Last September, RNC unearthed more than 9,200 ounces of high-grade gold from a single blast at the Beta Hunt mine in what some geologists were calling a "once-in-a-lifetime" discovery. Many of the specimens recovered — the largest of which weighed in at 94 kilograms — were among the biggest ever found in Australia.