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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  RTG Mining Inc.    RTG   VGG7707W1529

RTG MINING INC.

(RTG)
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RTG Mining : - THE MABILO PROJECT IN THE PHILIPPINES GRANTED A MINING LICENCE ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE AND AUSTRALIAN SECURITIES EXCHANGE

06/01/2020 | 08:32am EST

The Board of RTG Mining Inc. ('RTG', the 'Company') (TSX Code: RTG, ASX Code: RTG) is pleased to announce that Mt. Labo Exploration and Development Corporation ('Mt. Labo'), which holds the high grade Mabilo Project in the Philippines, recently received written confirmation that the Mines and Geosciences Bureau ('MGB') has now approved the expansion of the current Mineral Production Sharing Agreement No. MLC-MRD-459 for the Nalesbitan Project to include the Mabilo Project, being the subject of an approved Declared Mine Feasibility Study and Environmental Clearance Certificate.

Mt. Labo has been working closely over an extended period with the MGB to secure this important milestone for the project and is deeply appreciative of the considerable effort and support provided by the MGB.

ABOUT RTG MINING INC

RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and the Australian Securities Exchange. RTG is currently focused primarily on progressing the Mabilo Project to start-up with permitting well advanced, to move quickly and safely to a producing gold company.

RTG also has a number of exciting new opportunities but during these uncertain times primary focus is on the Mabilo Project.

RTG has an experienced management team which has to date developed seven mines in five different countries, including being responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited. RTG has some of the most respected international investors as shareholders including Franklin Templeton, Equinox Partners and Sun Valley.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the accuracy or adequacy of this press release, which has been prepared by management.

This announcement includes certain 'forward-looking statements' within the meaning of Canadian securities legislation including, among others, statements made or implied relating to the interpretation of exploration results, accuracy of mineral resource and mineral reserve estimates, parameters and assumptions used to estimate mineral reserves and mineral resources, realization of mineral reserve and mineral resource estimates, estimated economic results of the Mabilo Project, future operational and financial results, including estimated cashflow and the timing thereof, estimated expenditures, expansion, exploration and development activities and the timing thereof, including expectations regarding the DSO, plans for progressing Stage 2 development, completion of a debt funding package, the negotiation of contracts for start up works and offtake arrangements and the completion of merged documentation, RTG's objectives, strategies to achieve those objectives, RTG's beliefs, plans, estimates and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations. All statements, other than statements of historical fact, included herein, are forward-looking statements. Forward looking statements generally can be identified by words such as 'objective', 'may', 'will', 'expected', 'likely', 'intend', 'estimate', 'anticipate', 'believe', 'should', 'plans', or similar expressions suggesting future outcomes or events. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from RTG's expectations include uncertainties related to fluctuations in gold and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies in the development of RTG's mineral projects; the need to obtain additional financing to develop RTG's mineral projects; the possibility of delay in development programs or in construction projects and uncertainty of meeting anticipated program milestones for RTG's mineral projects and other risks and uncertainties as discussed in RTG's annual report for the year ended December 31, 2019 and detailed from time to time in our other filings with the Canadian securities regulatory authorities available at www.sedar.com. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. RTG will not release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

Contact:

Tel: +45 30 14 50 30

Web: www.rtgmining.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2019 - - -
Net income 2019 -13,4 M - -
Net cash 2019 0,98 M - -
P/E ratio 2019 -2,69x
Yield 2019 -
Capitalization 99,0 M 98,8 M -
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees 6
Free-Float 84,4%
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Managers and Directors
NameTitle
Justine Alexandria Magee President, CEO & Executive Director
Michael Joseph Carrick Chairman
Mark Barlow Turner Chief Operating Officer
Ryan Eadie Chief Financial Officer, Secretary & Controller
Phillip Clive Lockyer Independent Non-Executive Director
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