Challenging Resolute quarter

RESOLUTE Mining has signed a framework agreement with Sandvik targeting the creation of a globally competitive underground “mine of the future” at Syama, while in the here and now it says it remains on track to meet gold production guidance for the fiscal 2018 after a challenging December quarter at its two operations.

Challenging Resolute quarter Challenging Resolute quarter Challenging Resolute quarter Challenging Resolute quarter Challenging Resolute quarter

The December quarter saw 66,000 ounces of gold produced at total costs of A$1392 per ounce, with full year guidance being 300,000oz at $1280/oz.

That means 160,000oz at less than $1200/oz is needed in the current half, with Resolute MD John Welborn is confident that that target will be achieved.

Resolute attributed the softer December quarter to the ongoing transition of its gold business involving the development of long life operations at Ravenswood and, in particular, Syama in Mali.

Ore from the currently being developed large scale Syama underground mine is expected by late this year.

Regarding the agreement with Sandvik, details are sketchy, but the overall aim is to...