Resolute Mining Share Discussion Threads

[trader465] 21/6/2024 10:37

Simple beer mat calc….

$110 off AISC and average gold up $300 on last year is a total of $410 per oz gain on 350,000oz over last year or $143m by year end 24

[someuwin] 21/6/2024 08:32

Great bowl forming on the long term chart. Very bullish indicator.

[cowie19] 20/6/2024 16:24

Another top up today, metal prices perky, RSG chart looks great

[cowie19] 06/6/2024 20:17

Topped up another 10k shares at 29p this morning. My only surprise is that these are not already in the 30s, just a matter of time I think.

[avsome1968] 28/5/2024 18:03

Be well over 30p by the end of the year.

[avsome1968] 28/5/2024 18:02

Chair Transition and Appointment of Non-Executive Director



Martin Botha to retire as Chair and Non-Executive Director on 31st August 2024 as Andrew Wray appointed as Non-Executive Director




Resolute Mining Limited (Resolute or the Company) (ASX/LSE:RSG) is pleased to announce the appointment of Andrew Wray as a Non-Executive Director of the Company. Following Mr Botha's retirement, Mr Wray will succeed as Chair of the Board of Directors of Resolute.

Mr Wray is a seasoned mining executive with extensive executive and Board level experience in Africa. Mr Wray has held positions at both CEO and CFO level, as well as having substantial banking and finance experience advising companies in the mining and other sectors. He has led successful business turnarounds with responsible project development, built leadership teams, and executed corporate acquisitions as well as asset sales.

Mr Wray, the former CFO of one of Africa's largest gold producers - Acacia Mining, was most recently CEO of West African focused gold miner Golden Star Resources. Prior to this Mr Wray was CEO of the specialist mining investment company La Mancha.

Before entering the mining industry, Mr Wray spent 14 years at JP Morgan Cazenove, where he worked with a number of UK listed mining companies. He has had non-executive director roles at Evolution Mining and Golden Star, and currently Chairs Vedra Metals, a joint venture involving Appian Capital Advisory, a specialist mining focused private equity group

[cowie19] 28/5/2024 15:53

Roll on 30p dealings getting closer today. This can go much higher.

[cowie19] 22/5/2024 01:53

Moving nicely in Oz. .55 trading.

[odsjp] 21/5/2024 09:50

Should be generating buckets of cash at these gold prices

Net cash at 31/12 was $14M
Net cash at 31/03 was $34M, so $20M increase in first quarter.

That was based on 76T oz, selling for $1,950/oz (hedged price) with an AISC of 1,487

If we say Q2 will be 84T oz as plant fully running (not shutdown for planned maintenance) then this will be 160T oz in H1 and 185T oz in H2 (H2 weighted) for the low end of guidance.

So not only will AISC go down but more importantly the gold price is averaging around 2,300 oz for Q2 and we are now fully unhedged. At 1,950 we were making $20M cash, now another 350$ (pure profit per oz). So 84,000 x 350 is 30M, so for Q2 our cash balances should increase by around $50M!!! So in July update we could have net cash at around $84M.

If gold prices averages 2,300 for H2 then 185,000x350 = $65M + 2 x $20M for basic profit at $1,950 oz, so that would add another $100m net cash by year end.

That is $184M + I believe RSG are also still due A$50M (around $30m) from sale of Ravenswood which means net cash at year end could be over $200M.

[cowie19] 20/5/2024 12:12

Nice positive few days here.

[cowie19] 10/5/2024 08:11

Nice start to the day

[cowie19] 06/5/2024 14:10

Reviewed this and have bought, gold price action favorable and debt position improving all the time. One to watch.

[avsome1968] 30/4/2024 07:29

Highlights: Resolute becomes fully unhedged

· Total Recordable Injury Frequency (TRIF) increased to 1.74 from 1.71 in the prior Quarter with five recordable injuries at Syama during the Quarter

· Gold poured of 76,351 ounces (oz) (Q4 2023: 80,307oz) in line with expectations at both Mako and Syama given the scheduled fourteen-day shutdown on the sulphide plant - representing approximately 7,000oz of gold production

· All-In Sustaining Cost (AISC) of $1,487/oz in Q1 2024 was similar to Q4 2023 ($1,480/oz) despite the lower amount of gold poured during the Quarter

· Quarterly gold sales of 69,000oz at an average realised price of $1,950/oz (Q4 2023: 79,480oz at $1,954/oz) as the last remaining hedges were fulfilled. Gold sales were delayed by the Easter Weekend Bank Holidays

· Quarterly capital expenditure of $24.7m (Q4 2023: $16.5m) with non-sustaining capital of $15.5m, sustaining capital expenditure of $9.2m and exploration spend of $2.3m

· Final $25m repayment made on the Term Loan Facility leaving Resolute fully unhedged

· Substantial cash generation of $34.7m before debt and interest payments

· Net Cash of $33.9m (up from $14.0m in Q4 2023), including Cash and Bullion of $80.7m

· Earthworks for the Syama Phase I Expansion commenced with the project on track for ramp-up in Q2 2025

· Continued development of Mako mine extension with an initial Mineral Resource Estimate (MRE) at the Tomboronkoto Prospect declared on 24 January 2024 of 10.7Mt grading 1.2g/t Au for 403,000oz estimated at a cut-off of 0.5g/t

· Resolute remains on track with 2024 guidance for production (345,000 - 365,000oz), AISC ($1,300-1,400/oz) and capital expenditure ($115 - 145m). Gold production remains weighted towards H2

[arja] 17/4/2024 10:08

RSG did bounce 2 cents in oz and tempting to buy buy at 22.74 as a discount to oz closing price . But the MALI situation is a concern and share price could suddenly plunge again even with gokd price recovering today

[the count of monte_cristo] 04/4/2024 02:23

THX just bought some licenses in Senegal.

[paduardo] 03/4/2024 08:17

@avsome1968 google the just elected Senegal President, Faye, and read about his platform which explicits promises resource nationalism. His main focus is likely to be oil and gas but if we see more appreciation in the gold price his focus could easily shift to gold miners. Political risk / uncertainty is the issue here.

[avsome1968] 03/4/2024 08:06

$2280 gold price we should be over 30p a share what's keeping this down.

[paduardo] 25/3/2024 09:25

Anybody have any thoughts on the opposition leader (Bassirou Diomaye Faye) who looks like he is going to win in Senegal. Part of his campaign pledge is to renegotiate the oil and gas contracts (resource nationalism). I have seen mention of mining as well in newspaper articles describing his platform but cant find any specifics or reference to gold mining. Does anyone know anything on this?

[swinsco] 14/3/2024 14:29

Selling usually starts this time of day. Bit of dog. Shame as looks cheap

[theblackbaron] 13/3/2024 09:21

Gone back to sleep resolute disappointed sold majority in pump dump by baron on social media put in NYSE gold miners keeping few though undervalued. There is a large background seller in resolute so in theory once out should outperform.

[theblackbaron] 02/3/2024 14:19

Well it’s awoken at last

[theblackbaron] 22/2/2024 15:27

Dead as a door nail until bottoming out gold comex phase is complete I hoped for completion by now but looks March 2024 spread is a killer but only decent U.K. leveraged play listed.

US is better silver play will be bigger outperformance being MUX or Coeur IamGold Harmony best gold play out there......

[arja] 08/12/2023 14:15

amazing that trades going through today at close to 64.8 being about 2p above OZ closing price and gold off today after US figures !

[arja] 06/11/2023 08:24

whoops , it suddenly came yo life as I was typing and a few trades :)

[arja] 06/11/2023 08:23

it has become a waste of time trying to trade it here in UK as almost a MM stock and can not even buy between the MM spread ! It was actually up in oz to 38 cents and chart resistance at 40 level . remains a real dog amongst the gold stocks .