logo-loader
RNS
Resolute Mining Limited

Resolute takes control of Toro Gold

/**/ h1{margin-top:12.0pt;margin-right:0cm;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;font-size:20.0pt;font-family:"Arial","sans-serif";color:#FFD006;font-weight:bold;}h2{margin-top:4.0pt;margin-right:0cm;margin-bottom:12.0pt;margin-left:0cm;font-size:13.0pt;font-family:"Arial","sans-serif";color:#7F7F7F;font-weight:bold;}h3{margin-top:4.0pt;margin-right:0cm;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial","sans-serif";font-weight:bold;}h4{margin-top:12.0pt;margin-right:0cm;margin-bottom:12.0pt;margin-left:0cm;font-size:11.0pt;font-family:"Arial","sans-serif";font-weight:bold;font-div:italic;}h5{margin-top:2.0pt;margin-right:0cm;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Arial","sans-serif";color:#FFCE00;font-weight:normal;font-div:italic;}h6{margin-top:2.0pt;margin-right:0cm;margin-bottom:0cm;margin-left:0cm;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial","sans-serif";color:#FFCE00;font-weight:normal;}em{color:#FFCE00;}p{margin-right:0cm;margin-left:0cm;font-size:11.0pt;font-family:"Calibri","sans-serif";}ol{margin-bottom:0cm;}ul{margin-bottom:0cm;} link{ color: #595959 }visited{ color: #7F7F7F } .bq{size:595.3pt 841.9pt;margin:1.0cm 42.55pt 42.55pt 42.55pt;}div.bq{}p.ek{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;line-height:14.0pt}span.ei{font-size:10.0pt;font-family:"Arial","sans-serif"}p.el{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-top: 6.0pt; text-align: center}span.eg{font-size:16.0pt;font-family:"Arial","sans-serif"}p.em{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height: 14.0pt; margin-top: 6.0pt; text-align: center}span.ec{font-size:26.0pt;font-family:"Arial","sans-serif";color:#262626; letter-spacing:-.75pt}span.ed{text-transform:uppercase}p.en{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0cm;margin-right:-1.15pt;margin-bottom: 6.0pt;margin-left:0cm;text-align:justify;text-justify:inter-ideograph; line-height:120%;text-autospace:none} span.eb{font-size:10.0pt; line-height:120%;font-family:"Arial","sans-serif";color:#262626}span.dz{font-size:10.0pt; line-height:120%;font-family:"Arial","sans-serif";color:#26181E}p.eo{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-div: italic; font-weight: bold; line-height: 120%; margin-bottom: 6.0pt; margin-left: 0cm; margin-right: -1.15pt; margin-top: 0cm; text-align: justify; text-autospace: none; text-justify: inter-ideograph}span.dy{font-size: 10.0pt;line-height:120%;font-family:"Arial","sans-serif";color:#26181E}p.ep{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-div: italic; line-height: 120%; margin-bottom: 6.0pt; margin-left: 0cm; margin-right: -1.15pt; margin-top: 0cm; text-autospace: none}span.dw{font-size:10.0pt;line-height:120%;font-family:"Arial","sans-serif"; color:#26181E}p.eq{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-div: italic; line-height: 120%; margin-bottom: 6.0pt; margin-left: 0cm; margin-right: -1.15pt; margin-top: 0cm; text-align: justify; text-autospace: none; text-justify: inter-ideograph}p.er{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-div: italic}span.dt{font-size:10.0pt;font-family: "Arial","sans-serif"}table.es{margin-left:-5.4pt;border-collapse:collapse} tr.dm{height:30.35pt}td.dp{width:214.35pt;padding:0cm 5.4pt 0cm 5.4pt; height:30.35pt}p.et{margin-top:15.0pt;margin-right:0cm;margin-bottom:9.0pt;margin-left:0cm;text-align:justify;text-justify:inter-ideograph;line-height:14.0pt;font-size:13.0pt;font-family:"Arial","sans-serif";color:#26181E;font-weight:bold;margin:0cm;margin-bottom:.0001pt;line-height:normal}span.dr{font-size:10.0pt}td.dn{width:285.05pt;padding:0cm 5.4pt 0cm 5.4pt; height:30.35pt}span.do{font-size:10.0pt;color:windowtext}p.eu{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-justify:inter-ideograph}p.ev{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin-bottom: 6.0pt; page-break-after: avoid}span.dj{font-size:13.0pt;font-family:"Arial","sans-serif"}tr.cz{height:52.9pt} td.db{width:249.7pt;padding:0cm 5.4pt 0cm 5.4pt; height:52.9pt}p.ew{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 110%; text-align: justify; text-justify: inter-ideograph}span.dh{font-size:10.0pt;line-height: 110%;font-family:"Arial","sans-serif"}p.ex{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;text-justify:inter-ideograph; line-height:110%}span.df{font-size:10.0pt;line-height:110%; font-family:"Arial","sans-serif"}p.ey{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:110%}span.dd{font-size:10.0pt;line-height:110%;font-family:"Arial","sans-serif"}td.da{height:52.9pt;border:none}tr.cv{height:10.95pt}td.cx{width:249.7pt;padding:0cm 5.4pt 0cm 5.4pt; height:10.95pt} p.ez{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 110%}td.cw{height:10.95pt;border:none}tr.cs{height:15.2pt}td.cu{border:none;padding:0cm 0cm 0cm 0cm}p.a,li.a,div.a{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";}td.ct{height:15.2pt;border:none}tr.cq{height:26.3pt}td.cr{height:26.3pt;border:none}span.cp{font-size: 10.0pt;line-height:110%;font-family:"Arial","sans-serif"}a.co{font-weight: bold} p.fa{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold}h2.cl{margin-top:0cm;margin-right:0cm;margin-bottom:6.0pt;margin-left: 0cm}span.cm{color:windowtext}p.fb{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:6.0pt;text-align:justify;text-justify: inter-ideograph;line-height:115%}span.ck{font-size:10.0pt; line-height:115%;font-family:"Arial","sans-serif"}table.fc{margin-left:auto;margin-right:auto;border-collapse:collapse;border:none}td.cd{width:162.8pt;border:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt}p.fd{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 102%; margin-bottom: 3.0pt}span.ci{font-size:10.0pt;line-height:102%;font-family:"Arial","sans-serif"}p.fe{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:102%} span.cg{font-size:7.5pt;line-height:102%;font-family:"Arial","sans-serif"; letter-spacing:.1pt}span.ce{font-size:7.5pt;font-family:"Arial","sans-serif"; letter-spacing:.1pt}td.by{width:162.8pt;border:solid windowtext 1.0pt; border-left:none;padding:0cm 5.4pt 0cm 5.4pt}span.cc{font-size:7.5pt;line-height:102%;font-family:"Arial","sans-serif"; letter-spacing:.2pt}span.cb{font-family:"Arial","sans-serif"}span.ca{font-size:7.5pt;font-family:"Arial","sans-serif"; letter-spacing:.2pt}span.bz{font-family:"Metronic Slab Pro Light"}td.bu{width:163.0pt;border:solid windowtext 1.0pt; border-left:none;padding:0cm 5.4pt 0cm 5.4pt}p.ff{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 102%}.bw{font-div: italic} link,span.o{color:#595959;text-decoration:underline;}span.bv{font-size:7.5pt;line-height:102%;letter-spacing:.1pt}span.br{font-size:16.0pt} /**/
RNS Number : 7204H
Resolute Mining Limited
02 August 2019
 

2 August 2019

Resolute Mining Limited

(Resolute or the Company)

Resolute takes control of Toro Gold

 

Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) is pleased to confirm that First Completion, as described in the Company's announcement "Resolute to acquire Toro Gold" dated 31 July 2019, has occurred.

Pursuant to First Completion, Resolute has now (through a wholly-owned subsidiary) acquired approximately 94% of Toro Gold Limited's (Toro Gold) ordinary shares (on an undiluted basis), which, along with the appointment of Resolute nominees to the Toro Gold board of directors to replace existing directors, gives Resolute immediate control of Toro Gold.  

Please refer to Resolute's announcements of 31 July 2019 for further information, including in relation to the consideration for the Toro Shares.

General

Unless otherwise defined, all capitalised terms in this announcement shall have the same meaning given to them in the Offer Document, a copy of which is available on the Resolute website at https://www.rml.com.au/toroacquisition/.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

 

For further information, contact:

 

John Welborn

Managing Director & CEO

 

Jeremy Meynert

General Manager - Business Development & Investor Relations

 

 

Contact Information

Resolute

John Welborn, Managing Director & CEO

Jeremy Meynert, General Manager - BD & IR

Telephone: +61 8 9261 6100

Email: [email protected]

 

Berenberg (UK Corporate Broker)

Matthew Armitt/Detlir Elezi

Telephone: +44 20 3207 7800

 

 

 

 

 

 

 

 

 

Tavistock (UK Investor Relations)

Jos Simson / Charles Vivian / Emily Fenton /

Annabel de Morgan

Telephone: +44 207 920 3150 / +44 778 855 4035

Email: [email protected]

www.rml.com.au

 

About Resolute

Resolute is a successful, dividend paying gold miner with more than 30 years of experience as an explorer, developer and operator of gold mines in Australia and Africa which have produced more than 8 million ounces of gold.

Resolute's production and cost guidance for the 12 months to 31 December 2019 has been updated to 400,000oz of gold at an AISC of US$960/oz.  

Resolute owns four gold mines. Its flagship asset is the world class Syama Gold Mine in Mali (Syama) which can produce more than 300,000 ounces of gold per annum from existing processing infrastructure. Resolute is currently commissioning the world's first fully automated underground mine at Syama which will deliver a low cost, large scale operation with a mine life beyond 2032. The Mako Gold Mine in Senegal is a high quality, low cost asset with average annual production of ~140,000 ounces of gold. The Ravenswood Gold Mine in Australia and the Bibiani Gold Mine in Ghana are existing largescale assets which provide Resolute with significant production growth potential. Resolute has a pathway to annual gold production in excess of 500,000 ounces from a Global Mineral Resource base of more than 17 million ounces of gold.

Resolute trades on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) under the ticker RSG.

About Toro Gold

Toro Gold is the owner of the Mako Gold Mine located in eastern Senegal. The Toro Gold team oversaw the development of Mako from a greenfields discovery in 2011 to first production in January 2018, to commercial production in March 2018 ahead of schedule and under budget. Toro Gold has a 90% interest in Mako with the Government of Senegal holding a 10% free-carried interest.

 

 

ASX/LSE: RSG Capital Summary

Fully Paid Ordinary Shares: 758,094,588

Current Share Price:
A$1.68 as at 1 August 2019

Market Capitalisation: A$1.27 billion

FY19 Guidance (to 31 December):

400,000oz @ AISC US$960/oz 

Board of Directors

Mr Martin Botha Non-Executive Chairman
Mr John Welborn Managing Director & CEO

Ms Yasmin Broughton Non-Executive Director

Mr Mark Potts Non-Executive Director

Ms Sabina Shugg Non-Executive Director

Mr Peter Sullivan Non-Executive Director

 

Contact

John Welborn Managing Director & CEO

Jeremy Meynert GM - BD & IR
Level 2, Australia Place | 15-17 William St
Perth, Western Australia 6000
T: +61 8 9261 6100 | F: +61 8 9322 7597
E: [email protected]

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
ACQVLLBBKVFLBBK

Quick facts: Resolute Mining Limited

Price: $1.53

Market: ASX
Market Cap: $1.38 billion
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Gold expected to surge even higher on back of global economic weakness

Mining Capital's Alastair Ford discusses what he describes as the stunning rise in gold as it's moved through $1500 this week. ''There are some pundits around who think it'll go higher, $1525 is the next target they're setting''. ''I think there is some likelihood it will go higher - the...

on 9/8/19