Resolute decision on 'compelling' Bibiani remains awaited

RESOLUTE Mining’s “compelling” Bibiani project in Ghana remains in a holding pattern for the time being with a final investment decision for the US$75 million development expected “post completion” of Resolute’s Syama underground mine in Mali.

Resolute decision on 'compelling' Bibiani remains awaited Resolute decision on 'compelling' Bibiani remains awaited Resolute decision on 'compelling' Bibiani remains awaited Resolute decision on 'compelling' Bibiani remains awaited Resolute decision on 'compelling' Bibiani remains awaited

Bibiani awaiting the nod from Resolute HQ.

That equates to around the turn of the year given earlier this month Resolute said it expected to start sub-level caving at Syama in December.

A feasibility update for Bibiani points to production of circa-100,000 ounces per annum at all-in-sustaining-costs of $700-800/oz.

Pre-production capital includes $42 million for purchase of a mining fleet, with the capex number reduced by using a contractor to undertake development of the underground mine.

Full project capital is put at $115 million.

Resolute had cash, bullion and listed investments totalling A$113 million at the end of June.

Resolute's news on Bibiani completes a trifecta of operational updates in the past couple of weeks ahead of the company's quarterly report - also due this month.

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