Resolute Mining Ltd (ASX:RSG) has had L1 Capital Pty Ltd become a substantial shareholder in the company with a 5.87% stake.
L1 Capital manages money for a range of clients including large superannuation funds, endowment funds, financial planning groups, asset consultants, family offices, high net worth individuals and retail investors.
Earlier this week, Resolute presented at the Denver Gold Forum, which runs from Monday September 16 to Wednesday September 18.
The Denver Gold Forum is the world’s oldest and largest gathering of precious commodity equities.
The majority of the world’s largest gold producers were in attendance as well as resources equities analysts, fund managers, and industry professionals.
Resolute recently acquired Toro Gold
Resolute produces gold from its Syama gold mine in Mali, Mako gold mine in Senegal, and its Ravenswood gold mine in Queensland.
The recent acquisition of Toro Gold added the Mako Gold Mine to Resolute’s portfolio and upgraded calendar year guidance to 400,000 ounces of gold at an AISC of US$960 per ounce.
The upgrade is also supported by the ramp-up of the Syama Underground Mine.