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Business Description: Resolute Mining Limited (RSG) is a gold mining and exploration company with three operating mines in Africa and Australia. The mines are Syama Gold Mine in Mali (Africa), Golden Pride Gold Mine in Tanzania (Africa) and Ravenswood Gold Mine in Queensland (Australia). In addition, RSG holds a portfolio of gold development and exploration projects in Mali, Tanzania, Australia and Cote D’Ivorire.
Strategy Analysis: RSG aims to create shareholder value through success as a developer and operator of quality gold projects. The company also intends to expand its gold resources and production base through exploration. This takes place on tenure close to existing operations or via joint ventures on ground that has been identified through regional studies. .
Resolute Mining reported NPAT up 86% to $96.11m for the half-year ended 31 December 2012. Revenues from ordinary activities were $334.08m, up 14% from the same period last year. Diluted EPS was 15.14 cents compared to 8.03 cents last year. Net operating cash flow was $87.88m compared to $79.07m last year. No dividend was declared. The group gold production for the half year was 222,943oz (1H 2012: 185,072oz) at an average cash cost of $787/oz (1H 2012: $741/oz). The company's production guidance of 415,000oz at a cash cost of approximately $830 per ounce for FY2013 remains unchanged.
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The Age 19/06/2013 |
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The Age 19/06/2013 |
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The Age 19/06/2013 |
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The Age 19/06/2013 |
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The Age 19/06/2013 |
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