Resolute Mining Share Discussion Threads

[theprovosts] 24/3/2021 08:58

Im assuming Mr Market is worried about liquidity (previously indicated they were selling the concession) since the mine is not actually in operation just now?

[74tom] 24/3/2021 07:25

“hard to imagine further bad news“

Well it didn’t take long for your naive comments to be proven wrong...

[ohisay] 02/3/2021 15:14

Er.. they did get rid of the CEO

[vacendak] 19/2/2021 17:05

From the HY report of UIL Ltd, which holds a good chunk of Resolute:

"Resolute Mining Limited’s (“ResoluteR21;) gold
production in the six months to 31 December
2020 was 177,191oz, down 15.0% on the same
period in the prior year. This was due primarily to
interruptions in production at Syama in Mali, and
the sale of the Ravenswood mine in early 2020.
Sulphide production in Syama was impacted
by industrial action, while oxide operations
were lower than the previous year following the
completion of open pit mining at Tabakoroni in the
first half of 2020.
For the year to 31 December 2021, Resolute has
forecast production of 350,000oz to 375,000oz
at an all-in sustaining cost of between USD 1,200/
oz and USD 1,275/oz. In USD terms, gold rose
significantly in the first half of calendar year 2020,
then remained relatively flat during the period
under review. As at 31 December 2020, cash and
bullion on hand was USD 106.0m. In December,
Resolute announced the sale of the Bibiani gold
mine in Ghana for USD 105.0m"

[mrwaterloo] 17/2/2021 11:10

Aside the debt level, the company sold their Australian mine and now solely africa focused unit which probably increases the perceived risk. There was a coup in Mali which did not help confidence and some operational challenges and strikes at key mines alongside COVID risks as well as unexpected Capex and local VAT tax issues with government. During period of high gold prices a lot of the gold price was hedged because of the debt and therefore the group did not fully benefit from the upside. Some subsequent changes in management and broad selling by shareholders leading to the current poor valuation.

Hopefully the bad news is now behind us and Fully baked into share price. hard to imagine further bad news. Without further surprises the company should start delivering and we can see some upside to the current share price.

[ohisay] 17/2/2021 08:54

Guidance for 2021 of 350,000oz to 375,000oz at a forecast AISC between US$1,200/oz and US$1,275/oz...

Don't forget too 133,000 ozs already hedged for 2021 @ 1687 dollars/oz ..around 37% of output.

[avsome1968] 17/2/2021 08:31

Richard i think the dept was becoming a problem $230m need to be eating into this while gold price high so the sale of Bibiani Gold Mine for US$105 million will hopefully pay near half of the dept to $125m so with Guidance for 2021 of 350,000oz to 375,000oz at a forecast AISC 20% up between US$1,200/oz and US$1,275/oz so it all depends on the gold price i think we will see gold price over
2k again short term RSG share price should start to move back up i actually added yesterday to bring my average down to 46p now but i think will still have a seller in the background.




Y20 production to 395,136oz (CY19 production of 384,731oz)

-- Realised gold price for the quarter averaged US$1,719/oz compared to the average spot price of US$1,877/oz

-- All-In Sustaining Cost (AISC) of US$1,002/oz for the quarter bringing year to date AISC to US$1,074/oz (CY19 AISC of US$1,095/oz)

-- Cash and bullion of US$106.5 million reducing net debt to US$230.4 million at 31 December 2020

-- Agreement reached for sale of Bibiani Gold Mine for US$105 million
-- Guidance for 2021 of 350,000oz to 375,000oz at a forecast AISC between US$1,200/oz and US$1,275/oz

-- Tabakoroni Mineral Resource increased to 1.3Moz at 4.9g/t Au
Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) presents its Quarterly Activities Report for the period ended 31 December 2020.

Resolute's safety performance continued to improve with TRIFR halved to 0.87 over the preceding 12 months, despite the challenges posed by the COVID-19 pandemic.

Resolute's quarterly production of 89,888oz at an AISC of US$1,002/oz during the December quarter was driven by another strong performance from the Mako Gold Mine (Mako) in Senegal and an improved performance from the Syama Sulphide operation.

Production at the Syama Sulphide operation increased by 15% compared to the prior quarter despite a number of local and national strikes called during the December quarter. Processing operations were not significantly affected, as Resolute capitalised on the ore stockpiles at both the oxide and sulphide plants to ensure continuity of production. Syama Oxide production was affected by the late arrival of mining equipment to the Cashew Open pit which delayed access to higher grade ore, together with material handling issues associated with viscous, low density ores.

During the quarter, Resolute announced the Sale of Bibiani Gold Mine for US$105 million in cash to Chifeng Jilong Gold Mining Co. Ltd (Chifeng). Proceeds from the sale will be used to repay debt and strengthen Resolute's balance sheet.

Guidance for 2021 has been set at gold poured of between 350,000oz to 375,000oz at an AISC of between US$1,200/oz and US$1,275/oz inclusive of corporate overheads. The focus for 2021 will be operational consistency and cash generation

[richardly] 10/2/2021 19:03

No posts! Anyone any further info on why this disaster of companies share price has been hit so badly (compared to others)?

[doc_oj] 17/1/2021 11:38

Not pleased but staying put. Hopefully this is the bottom!

[avsome1968] 15/1/2021 18:50

AISC cost up pretty flat update just hope gold rockets this year.

[ohisay] 15/1/2021 14:34

Mali site is an ongoing disaster.

[avsome1968] 17/12/2020 23:22

Hmmmm news maybe sinking in ?

[doc_oj] 15/12/2020 08:13

this share absolutely baffles me, they strike a deal to sell one of their mines for almost a quarter of their current market cap and the share price remains almost at it's weakest point for the year!?

[avsome1968] 27/11/2020 09:04

Don't agree gold will bounce any day now, not sure what chart your looking at maybe turn it the right way round.

[arja] 26/11/2020 21:54

chart for RSG in OZ shows a turnaround and might have further to go . Gold off a touch since OZ close and I doubt it will move higher on friday in OZ . Sentiment never good for this stock sadly

[avsome1968] 26/11/2020 17:04

someone cumulating in 5k buys hmmmmmm time to top up gold ready to bounce get these 50% discount.

[avsome1968] 25/11/2020 12:27

Topped up knocked my average down a tad 49p gold will rally next year.

[avsome1968] 25/11/2020 08:10

Doc

Totally agree with you i bought around 55p very disappointed that we are where we are now, but nothing has changed, gold still reasonably high cant see too much more downturn looking to add anytime time to average down, stock market looking over inflated again, gold will turn a corner and start motoring back up next year for sure.

[doc_oj] 24/11/2020 23:21

Share price now is not much higher than the flash covid crash in march with gold about $300 an ounce lower at the time. Completely beyond me why the constant weakness when it already seemed low enough, continue to hold but shame unable to average down as no funds.

[arja] 06/11/2020 16:25

it was up today in OZ on back of a big move in gold prioe and should add a few more cents on monday in OZ if gold holds the current $1950 level . So might see almost 50p here on monday - maybe famous last words ! So illiquid here and RSPs will not offer a price between the spread - I use CFD .

[ntv] 05/11/2020 21:00

This appears to be run by a bunch of goons who don't seem to have a clue
Poor financing deals , poor hedging and causing a strike by trying to save a few grand in costs.
A decent management could vastly improve the performance here and maybe push the share price to where it should be
That debt should have been paid down in a year
$700 x 430,000 = $300m

[vacendak] 28/10/2020 11:40

UIL Ltd, which owns a big chunk of Resolute has issued its AR



Page 8 mentions past problems at Resolute and the "rescue" package from UIL Ltd.

[doc_oj] 26/10/2020 09:42

Got some more just now with a medium to long term view

[sammu] 26/10/2020 08:40

There have been lots of issues here holding this back, but all are surmountable or have passed:
Issues with the processing plant
Strike
Covid procedures
Mali Coup
CEO - new
Hedging (high hedging in the current quarter, as part of 30% of 18mth forecast production)
Debt
Even considering all of the above it seems incredible that the share price is below where it was trading August 2018 when the gold price was below $1200.