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resolute mining ltd (RSG) Snapshot

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08/26/13 - A$1.15
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resolute mining ltd (RSG) Details

Resolute Mining Limited is engaged in the exploration and mining of minerals properties in Australia and Africa. The company holds a 100% interest in the Ravenswood gold mine located in Northeast Queensland in Australia; and the Golden Pride mine situated in Tanzania, East Africa. It also holds an 80% interest in the Syama Gold Project located in the south of Mali, West Africa. Resolute Mining Limited was incorporated in 2001 and is based in Perth, Australia.

Founded in 2001

resolute mining ltd (RSG) Top Compensated Officers

Chief Executive Officer, Director, Member of ...
Total Annual Compensation: A$898.3K
General Manager of Finance & Administration, ...
Total Annual Compensation: A$482.4K
General Manager of Operations
Total Annual Compensation: A$560.4K
General Manager of Business Development
Total Annual Compensation: A$416.6K
Compensation as of Fiscal Year 2013.

resolute mining ltd (RSG) Key Developments

Resolute Mining Limited Announces Production Results for the Full Year of Fiscal 2014; Provides Production Guidance for Fiscal 2015

Resolute Mining Limited announced an update on its full year production for fiscal 2014. Resolute announced that the gold production for fiscal 2014 was 342,773 ounces. Cash costs for the year of $922/oz, subject to any audit adjustments. The actual average exchange rate for fiscal 2014 was AUD 1.00 = $0.916 was lower than the assumed rate, which had a negative impact on the cash costs when reported in Australian dollars. The company provided production guidance for fiscal 2015. Consistent with expectations, production for fiscal 2015 is anticipated to be lower than fiscal 2014. Group gold production for fiscal 2015 is forecast to be 315,000 ounces at a cash cost of $890/oz, with the lower production impacted by: The conclusion of the Golden Pride mine in Tanzania after 15 years of production; and Slightly lower grade ore being expected at the Ravenswood mine in Queensland in line with the Life of Mine plan. Resolute will benefit from increased production at the Syama mine in Mali, namely from the new parallel oxide processing plant which is expected to be commissioned in January 2015, partially offsetting the above falls. The increase in waste removal volumes at Syama in fiscal 2015 is the main driver for the increase in expected All-In-Sustaining costs for that year. However, the current Life of Mine plan at Syama forecasts this to reduce in subsequent years. Rehabilitation and closure activities at Golden Pride are expected to be completed by the end of calendar 2014.

Resolute Mining Limited to Become the Owner of Bibiani Gold Project in Ghana

Resolute Mining Limited announced it is now set to become the owner of the Bibiani gold project in Ghana following satisfaction of all conditions necessary to transfer the project to Resolute. The approval of the transfer by the Ghanaian Minister of Mines, The Hon. Alhaji Inusah Fuseini (MP), together with the resolution of the other outstanding issues, has allowed completion of the Schemes of Arrangement in Ghana and for the share transfer and debt assignment under the Deed of company Arrangement (DOCA) regarding Noble Mineral Resources Limited in Australia to occur. Resolute will become the new owner and operator of Bibiani, with a 90% interest in the advanced West African gold project, which has a substantial resource base, established infrastructure and historic production in excess of four million ounces of gold. The Ghanaian Government will hold the remaining 10% interest in accordance with the Ghanaian Mining code. Resolute will undertake a feasibility study for an underground operation which is planned to be completed within 24 months. As part of this, work will start promptly on a 20,000m drill program to better delineate the underground resource. Bibiani will continue under care and maintenance while the feasibility study is progressed.

Resolute Mining Limited expected to report Fiscal Year 2014 results on July 26, 2014. This event was calculated by Capital IQ (Created on May 22, 2014).

Resolute Mining Limited expected to report Fiscal Year 2014 results on July 26, 2014. This event was calculated by Capital IQ (Created on May 22, 2014).


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