Change of Speaker! John Welborn, MD & CEO of Resolute Mining Limited presents a standout performance from a fiercely consistent gold junior.
Due to corporate factors outside of their control, Vale is unable to present this month but will return to begin 2018 with a bang!
Resolute has been an exemplary performer in FY17 - boosting quarterly gold production to a comfortable 20koz at Ravenswood QLD and 62koz at Syama in Mali, Africa while expanding underground operations to increase life-of-mine to 2028. Forecast to produce 350koz in FY17 with an AISC of US$865/oz, the company is targeting long-term and consistent production of its two gold projects while developing a third in Ghana.
John Welborn, former Wallabies player turned MD and CEO, spun Resolute from a $569M loss in FY15 to a $213M gain last year, even purchasing 90,000 RSG shares following a bullish quarterly report. He contributed the company’s achievements to innovations like sublevel shrinkage with continuous fill at their Mt Wright UG operation in Ravenswood, 95km southwest of Townsville. The newly completed Ravenswood Extension Project has increased Ore Reserves to 1.8Moz, confirming another 13 years of production at 120koz/pa.
As the company’s Syama project in Mali transitions underground, driverless trucks have been introduced to feed two parallel sulphide and oxide processing plants capable of producing 250koz/pa. In Ghana at the Bibiani gold project, a second round of Resource drilling has begun following promising initial results.
It’s a safe bet, consolidating production in Oz and Africa, but the future still looks exciting for the ambitious gold junior.
Not to be missed!