Top Stocks News Resolute Mining (RSG)
30th Jun 2011
Resolute Mining (RSG) is a gold mining and exploration company, operating primarily in Africa and Australia.
The group’s portfolio focus is on Africa, but the miner also has projects in Australia, Mali and Tanzania.
RSG has three operating mines: Golden Pride in Tanzania, Ravenswood in Queensland, and the newly re-developed Syama in Mali, which was once a BHP Billiton operation.
RSG’s operations are well-placed, and exploration is likely to lead to further resource discoveries, underground, and in nearby pits.
The company continues to benefit from a boom in gold prices.
Golden update
RSG this week provided its Group gold production and cash cost guidance for FY12.
Gold production in the coming year is forecast to increase to 410,000 ounces at a cash cost of $730 per ounce.
This cements RSG’s position as the second largest primary listed gold producer on the ASX.
It also represents a substantial increase in production and reduction in cash costs.
RSG’s continued improvement in outlook is underpinned by ongoing progress being achieved at the Syama operation in Mali.
Resolute mining shares surged 7.6% on the back of the news.
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