The World Gold Council, the market development organisation for the gold industry, welcomes Resolute Mining Limited (“Resolute”) to its Board of Members. Resolute is one of the fastest growing producers listed on the Australian Securities Exchange and has continuously been mining and producing gold for 25 years. Resolute is an experienced and active explorer, developer, operator and innovator, with long life mines in southern Mali and Queensland, Australia and has recently been awarded two prospective large-scale exploration concessions in Egypt.
The World Gold Council’s Chief Executive, Aram Shishmanian, commented; “We are delighted that Resolute has joined the World Gold Council alongside some of the world’s leading and most forward-thinking gold mining companies. I look forward to working with Resolute’s CEO and Managing Director, John Welborn in shaping the agenda to ensure the continued growth and vibrancy of gold demand worldwide.”
Resolute’s CEO and Managing Director, John Welborn, said: “Our ambition to unlock further value across Africa and Australia relies on an expert understanding of the broader gold market. As such, the World Gold Council’s insight into market dynamics and its contributions to further widening access to gold will strengthen our ability to deliver new opportunities for our shareholders and the communities in which we operate. Together, we can ensure the gold market keeps growing and improving.”
For further information please contact:
World Gold Council
T +44 207 826 4763
E [email protected]
Resolute Mining Limited
T: +61 8 9261 6100
E: [email protected]
Note to editors:
World Gold Council
The World Gold Council is the market development organisation for the gold industry. Our purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market.
We develop gold-backed solutions, services and products, based on authoritative market insight and we work with a range of partners to put our ideas into action. As a result, we create structural shifts in demand for gold across key market sectors. We provide insights into the international gold markets, helping people to understand the wealth preservation qualities of gold and its role in meeting the social and environmental needs of society.
The membership of the World Gold Council includes the world’s leading and most forward thinking gold mining companies.
Resolute Mining Limited About Resolute
Resolute is a successful gold miner with more than 25 years of continuous production. The Company is an experienced explorer, developer, and operator having operated nine gold mines across Australia and Africa which have produced in excess of 7 million ounces of gold. Resolute currently operates two mines, the Syama Gold Mine in Africa and the Ravenswood Gold Mine in Australia, and is one of the largest gold producers listed on the Australian Securities Exchange with FY18 guidance of 300,000 ounces of gold production at All-In Sustaining Costs of A$1,280/oz (US$960/oz).
Resolute’s flagship Syama Gold Mine in Mali is a robust long life asset comprising parallel sulphide and oxide processing plants. The move to underground mining is expected to extend the mine life beyond 2028. The Ravenswood Gold Mine in Queensland demonstrates Resolute’s significant underground expertise in successfully mining the Mt Wright ore body, where operations are expected to cease in FY18. The Company’s next stage of development in Queensland is the return to large scale open pit mining at the Ravenswood Expansion Project which will extend the Company’s local operations for a further 13 years to at least 2029. In Ghana, the Company has completed a feasibility study on the Bibiani Gold Project focused on the development of an underground operation requiring modest capital and using existing plant infrastructure. Resolute is also exploring over 6,600km2 of potential world class tenure in West Africa and Australia with active drilling programs in Mali, Ghana, Cote d’Ivoire and Queensland, Australia. The Company is focused on growth through exploration and development and is active in reviewing new opportunities to build shareholder value.
John Welborn Managing Director & CEO
Level 2, Australia Place | 15-17 William St Perth, Western Australia 6000
T: +61 8 9261 6100 | F: +61 8 9322 7597
E: [email protected]
Board of Directors
Mr Martin Botha Non-Executive Chairman
Mr John Welborn Managing Director & CEO
Mr Peter Sullivan Non-Executive Director
Mr Mark Potts Non-Executive Director
Mr Bill Price Non-Executive Director
Ms Yasmin Broughton Non-Executive Director
ASX:RSG Capital Summary
Fully Paid Ordinary Shares: 736,982,768
Current Share Price: A$1.24, 29 June, 2017
Market Capitalisation: A$914 Million
FY18 Guidance: 300,000oz @ AISC A$1,280/oz