Canadian company unearths giant gold nuggets worth millions

Two Large Gold Specimens Found In WA Mine

Underground miners in outback Western Australia have unearthed rare gold specimens which geologists are calling a "once-in-a-lifetime discovery".

It contained 190kg of specimens including two unique stones which weighed 95kg and 63kg, respectively, with final estimates of 2440oz and 1620oz of gold within them.

Early estimates from RNC have put the total take of coarse gold from the cut at more than 9000oz, or more than $15 million worth.

The company said that this is a very rare find.

In Australia the miners found two gold nuggets, each of which, it is estimated, is worth several million dollars.

Gold in quartz at the Beta Hunt mine recovered in Australia in September 2018.

RNC began a sale process for its Beta Hunt mine in March before this latest discovery.

Australia's Gold Fields have produced numerous world's largest gold nuggets, including the 72kg nugget Welcome Stranger, which was unearthed by prospectors John Deason and Richard Oates in Victoria in 1869 during the gold rush. The largest is 95 kilograms and contains approximately 2,440 ounces of gold.

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Another 60kg specimen is estimated to contain 1600 ounces, or about $2.6 million in gold.

"Given the rarity of the rock, and the physical beauty and presentation of the gold that's there, it's a very spectacular stone in multiple ways, so we'll see whether 20, 30 or even 50-percent premiums apply here", Shelby said.

Following this significant discovery, RNC has made a decision to consider a sale, to maximise the value of Beta Hunt for RNC shareholders.

The miner credited with the discovery, Henry Dole, said he "nearly fell over" looking at what he described as the "mother lode", ABC reports.

Dole, who has seen a number of mines in the area close in recent years said that he believes there's something bigger and better just beneath the surface.

That's more than 560 pounds (255kg), or $10 million of gold in just four days, if you were to just cash it in today.

Canadian-based RNC, which has struggled since taking over operations at the mine in 2016, had been hoping to sell the mine by the end of last month to an exclusive bidder, believed to be North American. "Obviously with this find going forward we won't have any shortage of capital to make that happen and we think we'll have a very long bright future to build a very big mine at Beta Hunt going forward".

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