Ravenswood shows good numbers for Resolute

RESOLUTE Mining expects its Ravenswood project in Queensland to produce an average of 115,000 ounces per annum for 13 years at all-in sustaining costs of A$1097 per ounce.

Ravenswood shows good numbers for Resolute Ravenswood shows good numbers for Resolute Ravenswood shows good numbers for Resolute Ravenswood shows good numbers for Resolute Ravenswood shows good numbers for Resolute

Resolute has been looking at Ravenswood's future for a while.

Following optimised feasibility work it's been estimated life-of-mine capital will total $327 million, though initial expenditure in the current financial year is put at $33 million.

Notionally the overall capital cost points to net cash of about $900 million being generated, assuming the gold priced remained at recently levels of around $1700 per ounce till 2032.

The processing capacity will initially be increased to 3.2 million tonnes per annum, rising to capacity of 5Mtpa during the next decade.

Ravenswood is one of three operations on which Resolute is focused with the major Syama underground mine in Mali to emerge late this year and a feasibility study also upcoming for the Bibiani development in Ghana.

Resolute had $153M in cash, bullion and list...

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