Resolute increases output in March quarter
PERTH (miningweekly.com) – Africa-focused gold miner Resolute Mining poured 110 763 oz of gold during the three months to March, a 5 470 oz increase on the December quarter.
The ASX-listed miner on Monday reported that gold recoveries for the March quarter were up by 15% on the previous quarter, to 119 683 oz.
The Syama gold mine, in Mali, poured 57 531 oz of gold during the quarter under review, comprising 21 430 oz from the sulphide circuit and a further 36 101 oz from the oxide circuit.
The Mako mine, in Senegal, added a further 42 186 oz to Resolute during the quarter, while the Ravenswood mine produced 11 046 oz prior to its sale to a consortium consisting of private equity manager EMR Capital and energy and mining company Golden Energy and Resources.
Resolute has updated its 2020 production guidance to 430 000 oz, at an all-in sustaining cost of $980/oz, removing future production from Ravenswood following the sale of the asset. The Syama project is expected to deliver 260 000 oz in the full year, while Mako will deliver an additional 160 000 oz.
MD and CEO John Welborn told shareholders that the company’s focus was on maintaining and improving operational performance during the Covid-19 pandemic.
“Across our business we remain resolute. The challenges presented by Covid-19 continue to change on a daily basis. We are working closely with our employees, contractors and stakeholders, including our host governments, to safeguard our people and our operations. Our collective response to Covid-19, and our performance in the March quarter, has allowed us to maintain our previous production and cost guidance for 2020 for Syama and Mako.”
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