Ellis Martin Report: RUA GOLD (NZAUF) Hits 82.9 g/t Gold and 24.8% Antimony at Auld Creek
Rua repeats a 0.6m high-grade intercept but discloses no new assay results or true widths for the deposit.
Rua Gold Inc. (RUA) released a paid Ellis Martin Report interview on September 8, 2026, restating what the company described as its highest-grade drill results to date at the Auld Creek project. The headline grade cited in the release was 82.9 g/t Au and 24.8% Sb. The release did not provide interval width, true width, hole number, or a full assay table.
The company reported that approximately 19,600 m of resource drilling has been completed, with four rigs active and 18 holes awaiting assays. Updated mineral resource estimates and a pre-feasibility study are targeted for the fourth quarter of 2026. Additional details included a hub-and-spoke development plan, a land position of approximately 125,000 ha, a treasury of approximately US$20M, a Fast-track Approvals application, and upcoming drilling at Glamorgan.
Rua Gold Inc. (RUA) is a pre-production developer with a 204,000 oz AuEq resource, a completed PEA, and a target PFS in Q4 2026. With a market cap of about C$150M, the equity already reflects a development story, not a pure grassroots exploration option.
The actual drill result was published on Sept 8. The stock moved only mildly: closing at $1.20 on Sept 8, $1.27 by Sept 11, and $1.25 on Sept 14. The market has not treated the 0.6 m bonanza hit as transformational.
The Sept 15 interview adds no new assays, no new resource numbers, and no new economic data. The ~US$20M treasury mentioned is roughly consistent with the June 30 unaudited C$30M cash position after continued drilling and permitting spend.
Rua Gold Inc. is a New Zealand-focused gold and antimony developer with its main asset at Auld Creek, located within the historic Reefton Goldfield on the South Island. The company has reported an Auld Creek resource of approximately 54,000 ounces of gold equivalent (AuEq) in the indicated category and about 150,000 ounces of AuEq in the inferred category.
A preliminary economic assessment (PEA) for the project outlines an after-tax net present value (NPV) of approximately US$42 million at base case assumptions and US$113 million at spot gold prices, based on a 5.5-year underground mine life. The proposed processing concept involves a throughput of 250,000 tonnes per annum, utilizing a non-cyanide method to produce separate gold and antimony concentrates.
The company also holds a second asset, Glamorgan, an early-stage epithermal target situated in the Hauraki Goldfield near OceanaGold’s Wharekirauponga project. Regarding its financial position, Rua Gold reported cash holdings of approximately C$35.6 million in the first quarter of 2026. An investor presentation indicates approximately C$30 million in unaudited cash at June 30, 2026, while a September 15 interview cites approximately US$20 million.