Resolute into DRC

RESOLUTE Mining has taken another potential step towards its future growth prospects by becoming the biggest shareholder in Toronto-listed, Democratic Republic of Congo gold explorer, Kilo Goldmines.

Resolute into DRC Resolute into DRC Resolute into DRC Resolute into DRC Resolute into DRC

Resolute will hold 14.6% of Kilo after outlaying $A2.5 million, with warrants to own up to 25.9% of the currently issued capital of the Canadian company.

Resolute joins Toronto-listed gold miner Osisko Mining Corp as a major shareholder, with Osisko a gold miner in Canada which 13.3% of Kilo.

Significantly, Osisko also took part in the recent raising involving Resolute, though its prime focus appears to be its Canadian operating assets and potential developments.

Kilo is further complicated by the joint venture it has with Randgold Resources, the big African gold producer, on one of its two key DRC projects.

However Resolute managing director John Welborn indicated to MNN...