Resolute launches review of Ravenswood
PERTH (miningweekly.com) – Gold miner Resolute Mining on Tuesday told shareholders that the company has not made any decision in relation to the spin-off or sale of its Ravenswood gold mine, in Queensland.
Instead, the company was planning to undertake a strategic review of the asset in the first half of this year.
Resolute was responding to media reports that it is weighing a spin-off of the asset.
Resolute was in December last year granted an extension of its Prescribed Project status for the expansion of the Ravenswood mine, until the end of November 2020.
The Ravenswood expansion project would deliver 1.5-million ounces of gold over a 13-year mine life, at all-in sustaining costs of A$1 097/oz and average gold production of around 115 000 oz/y.
The miner said at the time that the extension of the Prescribed Project status would assist it in finalising additional regulatory approvals for the project.
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