Resolute Mining Share Discussion Threads

[arja] 17/4/2020 17:50

results announced on monday but I think RSG will be lower in oz on back of falling gold price unless results better than expected - quite rare for this stock sadly !
nice weekend all at this tragic time

[sammu] 16/4/2020 16:22

It might be somewhere in the region of 30% this year and less for 2021 but RNSs will allow you to work it out.

[arja] 15/4/2020 12:02

not sure but I thought it was quite a high % but it did perform well on tuesday after
the big rise in gold price . Punters here today expecting a further fall in OZ tonight even though gold price has recovered a bit from level at 7am today

[lasata] 14/4/2020 13:28

What percentage of their production are they hedging?

[arja] 07/4/2020 07:21

rSG is always a laggard but occasionally a trading opportunity , eg yesterday .

[bazboa] 06/4/2020 05:04

https://clients3.weblink.com.au/pdf/RSG/02222285.pdf

[spectoacc] 08/3/2020 17:16

Ugh, you'd think so! These were my pre-Coronavirus gold punt, in the mid-60's. Been an utter fiasco, but so often the way with individual miners.

Mali tax demand needs addressing before any meaningful recovery I reckon, irrespective of fantastic outlook for gold (& production).

[2020capitalltd] 08/3/2020 17:01

A lot of talk about POG. Oil is plummeting, reducing the cost of mining, further increasing profit margins, what an opportunity here at RSG.

[2020capitalltd] 04/3/2020 12:09

Another fall at the open, was there some news I missed other than the Director buying up more shares?

[spectoacc] 28/2/2020 08:09

FFS - fair to say plenty "knew" about it already, and explains the recent tanking when gold was rising. RSG been a fiasco for me so far.

[74tom] 28/2/2020 07:51

Ouch, big fall at open today - $51m tax demand from Mali isn’t what the doctor ordered...closed at 51p on ASX

[bamboo2] 27/2/2020 23:45

Matt, Hedging some of the production at good prices has to be applauded.

Helps pay for the progress in mine automation!
[See slides below]


LATEST PRESENTATION
26 February 2020
BMO Conference Presentation

[mattjos] 27/2/2020 23:30

Thanks bamboo ... i do think management are being entirely sensible to pursue this strategy. This is a big company with a high fixed cost-base &with hedging 30% seems very sensible .. way too risky with that payroll bill to be unhedged.I welcome it

[bamboo2] 27/2/2020 23:27

28 February 2020
Resolute adds to US$ gold hedge book

30,000 ounces forward sold at average price of US$1,670 per ounce

Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) advises that the Company has forward sold 30,000 ounces of gold at an average price of US$1,670 per ounce in scheduled monthly deliveries of 5,000 ounces between July 2021 and December 2021.

Resolute has taken advantage of strength in the gold price to extend the Company’s US dollar denominated gold hedge position. This hedging secures price certainty for a portion of the revenues generated from the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal. The additional hedging extends Resolute’s existing US dollar
forward gold sales program which prior to today’s new hedges consisted of 140,000 ounces of gold forward sold at an average price of US$1,548 per ounce in scheduled monthly deliveries to June 2021.

Resolute’s total gold hedge book as at 1 March 2020, including the new US dollar gold hedges, consists of 240,000 ounces in monthly deliveries out to December 2021 representing approximately 3% of Resolute’s Ore Reserves.

Managing Director and CEO, Mr John Welborn, was pleased to continue Resolute’s responsible hedging strategy:
“Resolute̵7;s hedging program has strong support from our syndicate banks as we progress finalisation of an expanded syndicated loan facility. Incremental expansion of our US dollar hedging position at gold price levels which are significantly above our budgeted gold price protects and supports Resolute’s cash flows. We remain
strongly leveraged to future upside in the gold price.”

[mattjos] 27/2/2020 00:11

bamboo, looking at the ASX:RSG chart, the recent fall looks like a drop back to the breakout level from the downtrend. I see that as A$1.115 - $1.12 or circa 57.5p - 58p in the UK.

Were back bang on at that level now in Austrlia.

I closed out gold at 1685 (from 1555 entry) but, back in now from 1639 for first parcel

[bamboo2] 26/2/2020 23:40

Matt, the Victor Sperandeo trend change is confirmed with an eod close above 67.44
Bought a few today, as price hit recent historical support.

The bull flag on $gold has an upbreak tp of 1750
Concurrently, the confirmed INVH&S has a tp 1736

[celeritas] 26/2/2020 22:51

Ssshhh Matt.

[mattjos] 26/2/2020 18:50

Resolute own 27% of Loncor Resources (TSX:LN) ... this has more than doubled its mkt cap in the last month.Loncor' s JV partner (Barrick) are drilling on Ngayu this month and next.

[74tom] 26/2/2020 12:36

The price has been volatile because of the A$1.10 placing, closing of short positions on the ASX set against the rocketing price of gold.

Today is a fantastic entry point IMO, I’ve been keeping an eye on the short position which was down to 6.6% as of 20th Feb. I’d bet that another chunk was closed on the ASX today with 17m volume. The shorts have until the placing shares hit the market on 3rd to close. After this if gold stays where it is there is literally no reason why this won’t re-rate by a minimum of 20%.

[mattjos] 26/2/2020 10:27

the SPP has come up with A$23.3m out of a max A$25m so, pretty well taken up by existing investors in Aus & NZ.

[mattjos] 26/2/2020 10:22

from a TA standpoint, this looks like a brief re-test of the breakout point on the chart, circa 57.5p - 58p which is not uncommon & I would expect it to move higher from here in coming days

The equity raise was carried out 21st Jan when pog was around $1,550 but, it would have been planned for some before as it was fully underwritten.

No way did the company or its advisers have reason to believe gold would be anywhere near these sort of prices when the raising was planned.