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Resolute Mining maintains class-leading Gold inventory

Mining News - Published on Fri, 15 Feb 2019

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Resolute Mining Limited announced the Company’s Annual Ore Reserve and Mineral Resource Statement as at 31 December 2018. Global Ore Reserves have been maintained at 5.8 million ounces of gold and Global Mineral Resources have been maintained at 16.6Moz of gold Global Ore Reserves and Global Mineral Resources include, on a 100% basis, gold inventories managed and controlled by Resolute (referred to below as Managed Ore Reserves and Managed Mineral Resources respectively) and, on an attributable basis, gold inventories held within the Company’s strategic equity investments. These balances are consistent with the Company’s previously published position as at 30 June 2018

Managing Director and CEO, Mr John Welbom, said “Resolute’s Ore Reserves and Mineral Resources at Syama, Ravenswood and Bibiani underpin our focus on long life mines and support our ambition to produce more than 500,000 ounces of gold annually. Our investment in exploration continues to create value by increasing the range and quality of our mineral resources. Resolute is a profitable dividend paying gold miner with a unique and growing gold inventory. Resolute controls six million ounces of gold in Ore Reserves which are located immediately beneath existing mills and processing plants which we own and operate with strong recoveries. The Company is commissioning the world’s first, purpose built, fully automated sublevel cave gold mine at Syama which will be powered by the world's largest site-based hybrid power plant. The ongoing expansion of our gold reserves and resources, coupled with successful implementation of industry leading technologies, will provide opportunities for growth in production and greater gold value per Resolute share."

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Posted By : Rabi Wangkhem on Fri, 15 Feb 2019
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