Company
Resolute Mining Ltd
ASX:RSG
Resolute Mining Ltd is a successful African-focused gold miner with more than 30 years of experience as an explorer, developer and operator of ten gold mines which have produced more than 9 million ounces of gold. The company currently owns two producing gold mines: the Syama Gold Mine in Mali (Syama) and the Mako Gold Mine in Senegal (Mako). Syama is a robust, long-life asset comprising a underground mine and associated sulphide processing circuit, along with satellite open pit operations which provide ore feed to a separate oxide processing circuit. Mako is a high quality, open pit gold mine which Resolute has owned and operated since August 2019.
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Resolute Mining retains buy recommendation and $1.70 price target from Berenberg
Joh. Berenberg, Gossler & Co. KG, commonly known as Berenberg Bank, is the world's oldest merchant bank founded in 1590.
Resolute Mining MD and CEO John Welborn demonstrates confidence in the company with on-market purchase
The company has maintained its guidance for 2020 which is around 430,000 ounces of gold at an all-In sustaining cost of US$980 per ounce.
Resolute Mining completes second tranche of ~$195 million equity raising
The company has maintained its guidance for 2020 which has been set at a production of 430,000 ounces of gold at an all-In sustaining cost of US$980 per ounce.
Resolute Mining positive results present new Syama oxide gold opportunities
Near-surface exploration drilling programs at satellite deposits are returning high-grade oxide gold intersections.
Resolute Mining gets behind COVID-19 support efforts of host West African governments
A $1 million contribution builds on Resolute’s contribution of medical services and supplies to the communities surrounding the Syama Gold Mine in Mali and Mako Gold Mine in Senegal.
Resolute Mining completes Mako royalty acquisition and placement to directors
Despite the current COVID-19 pandemic, Resolute has maintained its production guidance for 2020 which has been set at 430,000 ounces of gold.
Resolute Mining production increase in March quarter solidifies 2020 guidance
Despite the current COVID-19 pandemic, Resolute has maintained guidance for 2020 has been set at production of 430,000 ounces of gold at an All-In Sustaining Cost of US$980 per ounce.
Resolute Mining completes sale of Ravenswood Gold Mine
Resolute has received A$100 million of upfront proceeds consisting of A$50 million in cash and A$50 million in promissory notes which earn a 6% coupon.
Resolute Mining aims for continuity during COVID-19 pandemic
Resolute’s corporate offices in Perth and London are following the applicable local guidance with staff operating remotely using technology solutions.
Resolute Mining executes new syndicated loan facility with maximum US$300 million limit
The new US$300 million facility comprises a three-year US$150 million revolving credit facility and a four-year US$150 million term loan facility.
Resolute Mining and Bellevue Gold are Canaccord Genuity’s top gold picks
Bellevue’s recent resource upgrade to 2.2 million ounces at 11.3g/t makes it a standout among pre-production peers.
Resolute locks in US$1,670 per ounce gold with forward sales
With only about 3% of the company’s Ore Reserves hedged, it is plenty leveraged to any gold price upside.
Resolute Mining's A$23.3 million SPP contributes to equity raising expected to exceed A$194 million
The gold producer is focused on equity raising during the first quarter of 2020.
Resolute Mining lifts gold resource inventory to 19.1 million ounces
The company has added 2.5 million ounces in resources during 2019 net of mining and stockpile deletion.
Resolute Mining takes advantage of strong gold price to forward sell 30,000 ounces
The company maintains a hedging policy of committing to forward deliveries of gold production to take advantage of elevated gold prices
Resolute Mining strengthens balance sheet by completing US$130 million debt repayment
Repayment of the facility was funded from proceeds of Resolute’s recent combined capital raising which aims to secure A$196 million.
Resolute Mining to acquire royalty over gold production from Mako Gold Mine in Senegal
Acquisition and elimination of the royalty over Mako will boost future cash flows to Resolute and is consistent with the company’s preference to operating gold mines which are free from non-government royalties.
Resolute Mining recommences trading, issues first $146 million tranche of placement
In a vote of confidence, shares in Resolute are trading at a strong premium to the $1.10 capital raising price, last trading at $1.17 or a 6.3% premium.
Resolute Mining launches equity raising of up to A$196 million to repay bridge loan
The company has agreed with Taurus Funds Management Pty Limited to repay all amounts outstanding under the US$130 million Toro Gold bridge facility.
Resolute Mining strengthens balance sheet with another 37,200 ounces forward sold
The company has taken advantage of market volatility and current gold price strength to incrementally extend its US dollar-denominated gold hedge position.
Resolute Mining looking to generate cash in 2020
Resolute recently struck a deal to sell its Ravenswood Gold Mine for up to $300 million strengthening the company’s balance sheet.
Resolute Mining to sell Ravenswood Gold Mine for total proceeds of up to $300 million
Immediate value to Resolute of $100 million with up to $200 million in contingent upside.
Resolute Mining reveals exclusive negotiations for Ravenswood sale, shares pop
Resolute is in advanced negotiations with EMR Capital for the sale of the Ravenswood Gold Mine for up to $300 million.
Resolute Mining forecasts 500,000 ounces production in FY20
The company produced 384,731 ounces of gold in the year ended 31 December 2019 at an AISC of US$1,090 per ounce.
Resolute Mining increases production in December quarter
The company produced 384,731 ounces of gold in the year ended 31 December 2019.
Resolute Mining mitigates risk by locking in price early for gold sales
The company has forward sold another 22,800 ounces of gold at an average price of US$1,553 per ounce.
Resolute Mining strengthens US dollar gold hedge book with 30,000 ounces forward sold
MD and CEO: “With long mine lives, large gold inventories and an industry-leading production growth profile, Resolute remains strongly leveraged to further upside in gold prices.”
Resolute Mining completes stage 1 of Ravenswood expansion
Stage 1 allows for annual production to increase towards the target of 80,000 ounces gold at Ravenswood.
Resolute Mining gets roaster at Syama back online
The sulphide roaster at the Syama Gold Mine is back operating at nameplate capacity.
Resolute Mining signs power supply agreement with Aggreko for Syama solar hybrid power station
The new Syama power solution will combine world leading solar, battery and thermal generation technologies as well as improved environmental outcomes including a reduction in carbon emissions
Resolute Mining appoints experienced mining executive Stuart Gale as chief financial officer
New CFO Stuart Gale will replace Lee-Anne de Bruin who has been at the company since February 2017.
Resolute Mining seeks to maximise value of Bibiani through strategic review
Options to be examined include off-balance sheet financing of Resolute’s proposed recommissioning plan, joint ventures and partial or complete divestment.
Resolute Mining drills 12 metres at 93 g/t gold at Tabakoroni
The Tabakoroni open-pit mine is 35 kilometres from the Syama processing plant and mining commenced at Tabakoroni in late 2018.
Resolute Mining completes Syama roaster repairs on schedule and within budget
The comprehensive roaster repair and maintenance allows for possible deferral of a scheduled 2020 roaster shutdown.
Resolute Mining drill results support mine life extension at Mako
Results show resource expansion potential at the Mako Gold Mine and nearby potential for a satellite pit.
Resolute Mining’s new hybrid energy solution will reduce Syama power costs by 40%
The hybrid modular power station to be developed in conjunction with Aggreko will combine solar, battery and thermal generation technologies.
Resolute Mining roaster repairs at Syama on track and within budget
Despite the repairs, the Malian project poured 42,365 ounces of gold in October and the company is on track to meet annual guidance.
Resolute Mining secures key environmental permit for Ravenswood expansion project
All major approvals are now in place for a development plan that can accommodate an expansion of annual production to 200,000 ounces of gold over a ten-year mine life.
Resolute Mining’s sulphide roaster at Syama Gold Mine to be operational in six weeks’ time
Mined ore tonnages increased to 422,517 tonnes in the September 2019 quarter from 329,356 tonnes in the June 2019 quarter.
Resolute Mining produces “new normal” of 100,000 gold ounces in September quarter
Automation system site acceptance has been completed at the world’s first fully automated underground mine, Syama in Mali.
Resolute Mining gains substantial shareholder in L1 Capital
L1 Capital is an Australian fund manager and launched its flagship Australian Equities Fund in August 2007.
Resolute Mining presents at Denver Gold Forum as gold prices remains high
Resolute Mining Ltd (ASX:RSG) presented on Monday at the Denver Gold Forum, which runs from Monday September 16 to Wednesday September 18. The majority of the world’s largest gold producers were in attendance as well as resources equities a
Resolute Mining produces 176,237 ounces for June half, upgrades full year guidance
Full-year production guidance has been upgraded to 400,000 ounces at an AISC of US$960 per ounce.
Resolute Mining starts expanding gold capacity of Ravenswood
Stage I is targeting annual production of 80,000 ounces at an AISC of A$1,600 per ounce with total capital investment of A$6 million.
Resolute Mining gains new substantial holder in UBS
The company recently forward sold an additional 30,000 ounces of gold at an average price of US$1,519 per ounce.
Resolute Mining gold hedging position rated positively
Canaccord states RSG has the highest weighted average A$ hedge price and among the smallest out-of-the-money positions of peers.
Resolute Mining rides high on gold wave with US$ gold hedge book strengthened
The company has forward sold an additional 30,000 ounces of gold at an average price of US$1,519 per ounce.
Toro Gold’s US$305mln acquisition by Resolute shows that you don’t have to be listed to make a buck
Consolidation in the gold mining sector continues apace
Resolute Mining signs agreement to acquire 100% of Toro Gold, revises production and cost guidance
Toro Gold’s team oversaw the development of Mako from greenfields discovery in 2011 to first production in January 2018
Resolute Mining in trading halt with acquisition news pending
The company produces gold from its Syama gold mine in Mali and Ravenswood mine in Queensland.
Resolute Mining beats gold production guidance target
The company produces gold from its Syama gold mine in Mali and its Ravenswood gold mine in Queensland.
Investing in gold equities in London isn’t what it used to be, but there are still plenty of attractive opportunities to be had lower down the market
London lacks a gold mining champion of any real substance
Resolute Mining’s Ravenswood Expansion Project gets bigger with gold reserves up 58%
The 2.7 million-ounce reserve supports the potential for higher throughput and long mine life.
Resolute Mining achieves commercial production rates at Syama, begins automation commissioning
The company is targeting full commissioning of the world’s first fully automated underground gold mine for the third quarter of this year.
S&P/ASX 200 ends in red but gold miners continue to rise
Saracen Mineral gained 6.1% to $3.85 and St Barbara Limited climbed 5.5%
Gold price soars on dovish Fed pronouncements and Middle East uncertainty
The price has continued to rise overnight and this morning is at US$1,388, the equivalent of A$2,007.
Gold price soars on dovish Fed pronouncements and Middle East uncertainty
The gold price has been ticking up all year, but has now reached a five year high
Resolute Mining will begin trading on London Stock Exchange today
The company is commissioning the world’s first fully automated underground gold mine in Mali with the aim of delivering a low-cost, large-scale operation with a mine life beyond 2032.
Resolute Mining expects to begin trading on Main Market of LSE this week
The gold producer’s prospectus in support of listing has been approved by the UK Financial Conduct Authority.
Resolute Mining tops up A$ gold hedge book with 30,000 more ounces
The company’s hedge book totals 190,000 ounces and represents less than 3% of its current gold ore reserves.
Resolute Mining secures additional mining leases at Ravenswood Expansion Project in QLD
The Ravenswood Gold Mine is expected to deliver low cost production for at least the next 14 years.
Resolute Mining’s Welborn steps up and buys another 25,000 shares on-market
The company produces gold from its Syama gold mine in Mali and its Ravenswood gold mine in Queensland.
Resolute Mining locks in some profits with forward sales
The hedge locks in some profits but the company remains highly exposed to future upside in the gold price.
Exore Resources intersects shallow high-grade gold in third identified target area within Cote d’Ivoire Gold Projects
The company now has a third large area prospective for gold after high-grade assays were previously reported at the Antoinette and Veronique prospects within its Bagoe project.
Resolute Mining obtains mining lease approvals to support Ravenswood Expansion Project in QLD
The nine approved mining leases expand Resolute’s available tenure for the proposed open pits within the Ravenswood Expansion Project.
Resolute Mining quarterly confirms record production from Syama
The company’s March quarterly report has confirmed the production update earlier in April.
Resolute Mining Tabakoroni resource supports underground gold mine potential
An updated estimate for the project near the Syama operations in Mali has increased the resource grade by more than 120%.
Resolute Mining set to benefit from new Mining Convention Agreement for Syama mine
The new agreement results in a 10% reduction in the tax rate to 25% among other benefits.
Resolute Mining increases production amid ramp-up at Syama, Mali mine
The miner produced 33% more gold last quarter, achieving record production at Syama in Mali.
S&P/ASX 200 closes higher after strong gains in mining and energy
Resolute Mining shares jumped 7.7% to $1.25 after the miner reported a 33% rise in quarterly gold output.
Resolute Mining achieves record quarterly gold production from Syama
Syama Underground Mine ramp-up is continuing with commercial production now targeted for the September 2019 quarter.
Resolute Mining scaling up to full gold production by quarter’s end
The Syama, Ravenswood and Bibiani gold mining projects are key assets for the international producer.
Resolute Mining reinvesting golden cash into mine life
The company aims to deliver long life, low-cost mines at Syama, Ravenswood, and Bibiani.
Resolute Mining maintains gold reserves and resources across broad portfolio
The company’s total investment in exploration and discovery since 2010 has been $193 million, with its historical cost calculated at $33 per reserve ounce and $19 per resource ounce.
Resolute Mining notes no material impact from recent extreme weather
The mine operated on a partial shutdown basis during the monsoon but plans to make it up.
Resolute Mining locks in more forward gold sales at high gold prices
The weak Australian dollar and strong gold price has resulted in high $A gold prices.
Resolute Mining locks in high gold price and increases stake in Manas Resources
Pricing for near half of planned gold production through to December 2019 is now locked in.
Resolute Mining shows ongoing commitment to community by building new school
Ravenswood is a small mining town in Queensland and also the name of the gold mine.
Resolute Mining increases quarterly gold production by 33%
Gold is produced from the Syama mine in Mali and the Ravenswood mine in Queensland.
Resolute Mining strengthens Australian dollar gold hedge with a further 30,000 ounces
The forward sale is intended to take advantage of strength in the Australian dollar gold price.
Resolute Mining discovers more gold at Tabakoroni
Tabakoroni is 35 kilometres south of the operating Syama Gold Mine.
Resolute Mining delivering Syama gold mine on time and on budget
Syama is the world’s first, purpose-built, fully automated sub-level cave gold mine.
Resolute Mining's Ravenswood expansion receives prescribed project status extension
The extension will assist Resolute in finalising additional approvals to allow project works to begin.
Resolute Mining seeks listing on Main Market of the London Stock Exchange
The gold producer believes the listing will facilitate improved access to gold and African-focused institutional investors.
Resolute Mining Limited expects 40% Syama power cost savings with new solar hybrid plant
The gold miner has signed a Joint Development Agreement with Ignite Energy Projects Pty Ltd.
Oklo Resources to start gold drilling program in Mali later this month
The company will pick up drilling at its projects which have delivered high-grade African gold.
Resolute Mining adds 30,000 ounces from Syama to gold hedge book
The move aims to secure US$ revenues during the ramp-up phase of the underground project in Mali.
Resolute Mining’s John Welborn adds to shareholding, brings total to 4.5 million shares
The company is transforming its Mali and Queensland gold mines into low-cost, long-life operations.
Resolute Mining begins first stope production at Syama Underground, maintains FY19 guidance
The company is transforming both its Syama and Ravenswood gold mines into long-life, low-cost operations over 3 years.
Investments and investor services
Brisbane Resources Round-up will showcase Australia’s resources sector
The annual convention is on next week at the Hilton Brisbane with 48 presentations and 70 exhibitors.
Resolute Mining adds to its gold hedge book as production increases
Total gold hedge book, including today’s, consists of 85,000 ounces in monthly deliveries out to December 2019.
Resolute Mining managing director and CEO buys more shares
John Welborn was appointed managing director and CEO on 1 July 2015.
Resolute Mining appoints mining engineer to board
The company is a gold producer ramping up to 500,000 ounces per annum production.
Resolute Mining generates solid cash flow in FY18 on road to 500,000 ounces per annum
The company is developing the world’s first fully automated underground gold mine.
Resolute Mining grows gold inventory substantially
The company is in the process of developing its third operating gold mine Bibiani in Ghana.
Oklo Resources’ substantial shareholder Resolute Mining increases its stake
Oklo is leveraged to the prolific greenstone belts of Western Mali.