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Resolute Mining resolute in becoming a multi-mine global gold producer

Resolute Mining resolute in becoming a multi-mine global gold producer

Thu May 17 2018

 

Resolute Mining Ltd (ASX:RSG) managing director and chief executive John Welborn updates Proactive Investors on the Africa-focused gold mining company’s operations.

 

One of two projects currently operating and producing gold, the Syama Gold Mine in Mali, is progressing towards the goal of becoming a world-class sub-level cave operation. "We're currently operating two processing plants there: an oxide plant which is fed by satellite open pit mines, and the large-scale historic sulphide circuit which [is] processing stockpiles while we build an underground mine. That underground mine is due to start sub-level caving in December of this year," says Welborn.

 

The company’s second gold producing asset, the Ravenswood Gold Mine in Queensland, Australia, has recently gained final approvals for an expansion that should take annual site production beyond 120,000 ounces, over a mine-life of 13 years or more.

 

At the historic Bibiani Gold Mine in Ghana, a second feasibility study is in its final stages, and should be released before the end of this quarter. Resolute Mining will then make a development decision.

 

Exploration around existing assets designed to enhance operations is ongoing. Meanwhile, the company has made a number of strategic investments in junior gold miners and select potential development plays. Welborn explains, "we're establishing a portfolio of gold companies that we think will add a pipeline of growth to Resolute shareholders... it's a really strong end to the financial year for Resolute.”

 

Source: http://www.proactiveinvestors.com.au/