10:59 AM EDT, 10/17/2019 (MT Newswires) -- Exploration company RNC Minerals (RNX.TO) said Thursday that it has recovered about 3,200 ounces of coarse gold at its Beta Hunt Mine in Western Australia.

The company is now preparing for stope production, which is scheduled for late this year or early 2020.

"As I have previously highlighted, RNC aims to monetize each coarse gold occurrence through our mill as quickly as possible in order to take advantage of the current high Australian dollar gold price. That said, our primary focus remains on aggressively pursuing cost reduction initiatives across all of our operations," said CEO Paul Andre Huet.

The stock climbed 9.1% Thursday morning.

Price: 0.36, Change: +0.03, Percent Change: +9.1