Resolute Mining Ltd (ASX:RSG) has revealed it is targeting gold production of 500,00 ounces in the 2020 calendar year at an all-in sustaining cost (AISC) of US$980 per ounce.
This represents a 30% increase on unaudited 2019 gold production of 384,731 ounces at an AISC of US$1,090 per ounce.
The 500,000-ounce 2020 guidance target comprises:
- 260,000 ounces at US$960 per ounce from the Syama Gold Mine in Mali;
- 160,000 ounces at US$800 per ounce from the Mako Gold Mine in Senegal; and
- 80,000 ounces at US$1,200 per ounce from the Ravenswood Gold Mine in Queensland.
Resolute had cash, bullion and listed investments as at 31 December 2019 of A$181 million
All operations enter 2020 at nameplate capacity
Resolutes managing director and CEO John Welborn said: “Production guidance for 2020 of 500,000 ounces is a significant milestone for Resolute.
“Following completion of the repairs at Syama in late 2019, we have started 2020 with all our operations operating at nameplate capacity and generating positive cashflows.
“Strong operating cashflows, and reduced capital demands, will support a stronger balance sheet and create further opportunities for Resolutes growth and ambition.”
Short squeeze opportunity
From September 2019, ResolutRead More – Source
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