Hot Stocks Resolute Mining (RSG)

Resolute Mining (RSG) is a gold mining and exploration company with operations in Africa and Australia.

RSG’s key mines are located at Golden Pride in Tanzania, Obotan in Ghana, while it also owns the Ravenswood gold mine in Queensland.

RSG has been one of the market’s hot stocks in recent weeks, with its share price surging on record high bullion prices.

Recently, RSG completed a $40 million capital raising, which was designed to close out its hedge book and fund working capital requirements.

RSG will now become fully unhedged and exposed to gold price movements, whilst the excess funds will help to improve its operating cash flow.

RSG jumped 4.6% on the day of its announcement, making it one of the best performers in the Australian share market.

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