On Friday, the company forward sold 22,800 ounces of gold at an average price of US$1553 an ounce in scheduled monthly deliveries of 3800oz a month between July and December this year.

It comes after Resolute forward sold 30,000oz at $1501/oz on Christmas Eve.

The company's US dollar forward gold sales program comprises of 55,000oz sold at an average price of $1510/oz in scheduled monthly deliveries of 5000oz per month from February 2020 through to December 2020.

Resolute's total gold hedge book comprises 177,800oz in monthly deliveries out to December 2020, representing less than 3% of Resolute's ore reserves.

"Incremental expansion of our US dollar hedging position at current levels which are significantly above our budgeted gold price, protects and supports Resolute's revenue and cashflow," Resolute managing director and CEO John Welborn said.

"Resolute's active gold sales program and discretionary near-term hedging protects the company's balance sheet and supports our revenue and cashflows.

"With long mine lives, large gold inventories, and an industry leading production growth profile, Resolute remains strongly leveraged to future upside in gold prices."

Resolute's Syama roaster in Mali returned to full production on December 20, and on December 23, the company completed the stage one of the Ravenswood expansion in Queensland to 5 million tonnes per annum.

Stage one of Ravenswood is targeting about 80,000oz per annum of gold at all-in sustaining costs of A$1600/oz.

The company is expected to kick off stage two this year, which would increase production to 200,000ozpa from 2022.

The mine is subject to strategic review.

Resolute shares were 0.8% lower this morning at $1.27, only slightly higher than this time last year.